WASHINGTON, D.C., U.S. — The U.S. Department of Agriculture (USDA) in its Aug. 12 World Agricultural Supply and Demand Estimates report forecast the carryover of wheat in the U.S. on June 1, 2016, at 850 million bushels, up 8 million bushels, or about 1%, from 842 million bushels projected in July and up 102 million bushels, or 14%, from 773 million bushels in 2015. Ending stocks were forecast to be the largest since 2010-11, the USDA said.
The USDA 2016 wheat carryover number was below the average of pre-report trade expectation at 858 million bushels.
The U.S. corn carryover on Sept. 1, 2016 was projected at 1.713 billion bushels, up 114 million bushels, or 6%, from 1.599 billion bushels projected in July but down 59 million bushels, or 3%, from 1.772 billion bushels forecast in 2015. The USDA 2016 corn carryover was above the pre-report trade average expectation of 1.427 billion bushels, and the 2015 carryover was below average trade expectations of 1.781 billion bushels.
The U.S. soybean carryover on Sept. 1, 2016, was projected at 470 million bushels, up 45 million bushels, or 11%, from 425 million bushels in July and up 96% from 240 million bushels forecast in 2015. The 2016 USDA soybean carryover number was well above the average trade expectation near 305 million bushels The 2015 USDA number was below the trade average of 247 million bushels.
The rice carryover on Aug. 1, 2016, was projected at 42.4 million cwts, up 4 million cwts, or 10%, from 38.4 million cwts in July but down 5.5 million cwts from 47.9 million cwts in 2015.
World wheat ending stocks were forecast at a record 221.47 million tonnes for 2015-16, compared with 209.66 million in 2014-15. World corn ending stocks were projected at 195.09 million tonnes for 2015-16, compared with 197.42 forecast for 2014-15. Global 2015-16 soybean ending stocks were projected at 86.88 million tonnes, compared with 80.57 million tonnes forecast for the current year.