July 28, 2015

July 2015 USDA Supply & Demand Report

July 10th, 2015

Summary of US and World Ending Stocks vs Estimates is below. A full analysis will be available below the ending stocks table soon.

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Report Video Recap:

Summary:

US Ending Stocks 14/15 (billion bushels)
USDA June 2015 Avg Estimate USDA July 2015
Corn  1.876 1.811 1.779
Soybeans  .330  .287 .255
World Ending Stocks 14/15 (million tonnes)
Corn 197.0 195.3 193.95
Soybeans 83.7 82.8 81.68
Wheat 202.4 200.3 212.06
US Ending Stocks 15/16 (billion bushels)
USDA June 2015 Avg Estimate USDA July 2015
Corn  1.771 1.540 1.599
Soybeans  .475  .370 .425
Wheat  .814  .861 .842
World Ending Stocks 15/16 (million tonnes)
Corn 195.2 193.0 189.95
Soybeans 93.2 91.8 91.8
Wheat 202.4 200.4 219.81

July-15-WASDE-US-World-CornCorn: The trade knew USDA would be lowering their old crop stocks estimate today. The June 30 Grain Stocks report found smaller than expected supplies of old crop corn left around as of June 1. This implied more demand in the March – May timeframe. USDA today lowered their August 30 ending stock forecast down from 1.876 billion in June to now 1.779. That was under the trade expectation of 1.811, shared by Allendale. The demand increases they made for old crop were larger than expected. This included an increase due to known Mar – May demand as well as an expectation for improved demand over the current June – August quarter.

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