WASHINGTON, D.C., U.S. — The U.S. Department of Agriculture (USDA) in its June 11 World Agricultural Supply and Demand Estimates projected 2014-15 carryover of wheat in the U.S. on June 1, 2015, at 574 million bushels, up 34 million bushels, or 6%, from 540 million bushels projected in May, but down 19 million bushels, or 3%, from 593 million bushels on June 1, 2014.
USDA wheat carryover numbers were above the average of trade expectations that were near 550 million bushels for 2015 and 588 million bushels for 2014.

Total wheat production in 2014 was projected at 1.942 billion bushels, compared with 1.963 billion bushels projected in May and 2.13 billion bushels in 2013. Wheat imports were projected at 160 million bushels, unchanged from May and down 5 million bushels from 170 million bushels last year. Total wheat supply was projected at 2.695 billion bushels, down 11 million bushels from May and down 323 million bushels, or 11%, from 3.018 billion bushels last year.

Total wheat use in 2014-15 was projected at 2.121 billion bushels, down 45 million bushels from May and compared with 2.424 billion bushels in 2013-14. Feed and residual use was projected at 160 million bushels, down 10 million bushels from May and down 60 million bushels from 2013-14. Wheat exports were projected at 925 million bushels, down from 950 million bushels in May and 1.18 billion bushels in 2013-14.
All 2013-14 and 2014-15 corn estimates and projections were unchanged from May except for prices paid to farmers, which were forecast at $4.45-$4.65 a bushel for the current year, down 5-15¢ from May, and $3.85-$4.55 a bushel for 2014-15, unchanged from May.

U.S. corn carryover on Sept. 1, 2015, was projected at 1.726 billion bushels, unchanged from May and up 51% from 1.146 billion bushels forecast for Sept. 1, 2014. The USDA 2015 projection was below the trade average forecast of 1.746 billion bushels, but the 2014 number was below the trade average of 1.157 billion. 
U.S. soybean carryover on Sept. 1, 2015, was projected at 325 million bushels, down about 2% from 330 million bushels projected in May but up 160% from 125 million bushels forecast for Sept. 1, 2014. The USDA 2015 projection was above the trade average forecast near 322 million bushels, and the 2014 number was near the average expectation of 127 million bushels. 
U.S. soybean imports were projected at 15 million bushels in 2014-15, unchanged from May but down from 90 million bushels estimated for 2013-14. Soybean exports next year were projected at 1.625 billion bushels, unchanged from May but up 25 million from 1.6 billion bushels this year.

The USDA projected 2014-15 global ending stocks of wheat at 188.61 million tonnes, compared with 187.42 million tonnes projected in May and 186.05 million tonnes estimated for 2013-14. 
The USDA 2014-15 ending stocks projection was above the average trade expectation near 187 million tonnes.

World wheat production for 2014-15 was projected at 701.62 million tonnes, compared with 697.04 million tonnes in May and 713.97 million tonnes in 2013-14, consumption at 699.06 million tonnes, compared with 696.15 million tonnes in May and 703.20 million tonnes the prior year, and exports at 152.08 million tonnes, compared with 151.82 million tonnes in May and 162.75 million tonnes last year.

World corn ending stocks were projected at 182.65 million tonnes for 2014-15 compared with 181.73 million tonnes projected in May and 169.05 million tonnes in 2013-14. The 2014-15 corn ending stock projection was near the average trade estimate of 182 million tonnes.

World soybean ending stocks for the next marketing year were projected at 82.88 million tonnes compared with 82.23 million tonnes in May and 67.17 million tonnes in 2013-14. The 2014-15 projection was near the average trade expectation of 82.5 million tonnes. 

Global rice carryover was projected at 110.67 million tonnes in 2014-15 compared with 109.77 million tonnes projected in May and 112.13 million tonnes in 2013-14.