WASHINGTON, D.C., U.S. — The U.S. Department of Agriculture (USDA) in its July 11 World Agricultural Supply and Demand Estimates projected carryover of wheat in the U.S. on June 1, 2015, at 660 million bushels, up 86 million bushels, or 15%, from 574 million bushels projected in June, and up 70 million bushels, or 12%, from 590 million bushels on June 1, 2014.
Total wheat use in 2014-15 was projected at 2.081 billion bushels, down 40 million bushels from June and compared with 2.426 billion bushels in 2013-14. Feed and residual use was projected at 145 million bushels, down 15 million bushels from June and down 72 million bushels from 2013-14. Wheat exports were projected at 900 million bushels, down 25 million bushels from 925 million bushels in June and down 282 million bushels from 1.182 billion bushels in 2013-14.
U.S. corn carryover on Sept. 1, 2015, was projected at 1.801 billion bushels, up 75 million bushels from June and up 555 million bushels, or 45%, from 1.246 billion bushels forecast for Sept. 1, 2014. The USDA 2015 projection was above the trade average forecast of 1.773 billion bushels, and the 2014 number was above the trade average of 1.225 billion bushels.
The USDA projected 2014-15 global ending stocks of wheat at 189.54 million tonnes, compared with 188.61 million tonnes projected in June and 184.29 million tonnes estimated for 2013-14.
World corn ending stocks were projected at 188.05 million tonnes for 2014-15 compared with 182.65 million tonnes projected in June and 173.42 million tonnes in 2013-14.