World Perspectives
feed-grains soy-oilseeds wheat

December 2019 WASDE Estimates

The December WASDE will be released tomorrow, December 10 at 11:00 Chicago time.  This provides industry estimates on what to expect.  

Typically this is a minor report since it will not update US crop production numbers and only focus on the demand side of the balance sheet in addition to world numbers.  Consequently, expectations do not include any material changes for US carryout or SAM production, and only a minor reduction in world wheat stocks to reflect a smaller Australian wheat crop. 

DJ December World Grain, Soybean Stockpiles Estimates -- Survey

World Stockpiles (million metric tons) 2018-19

                   Average               Range        USDA Nov 

Corn                 319.6            315.0-320.1        320.1 

Soybeans        110.0            109.0-112.1        109.7 

Wheat             277.6            275.0-278.0        277.9 

World Stockpiles (million metric tons) 2019-20

                           Average     Range        USDA Nov 

Corn                  295.6         292.0-298.2        296.0 

Soybeans          96.2          94.0-101.9          95.4 

Wheat              286.3        283.9-288.5        288.3 

 DJ U.S. December Grain, Soybean Stockpiles Estimates -- Survey

The following are analysts' estimates in millions of bushels for U.S. ending stockpiles for 2019-20, as compiled by The Wall Street Journal. 

2019-20

                    Average            Range              USDA Nov. 

Corn                 1,859          1,479-1,960       1,910 

Soybeans            472          345-522           475 

Wheat                1,000        913-1,050        1,014 

 

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