WASHINGTON, D.C., U.S. — The U.S. Department of Agriculture (USDA) in its Sept. 11 World Agricultural Supply and Demand Estimates report forecast the carryover of wheat in the U.S. on June 1, 2016, at 875 million bushels, up 25 million bushels, or 3%, from 850 million bushels projected in August, and up 122 million bushels, or 16%, from 753 million bushels in 2015.
The USDA 2016 wheat carryover number was above the average of trade expectations at 860 million bushels.
The increase in 2016 wheat carryover was the result of a 25-million-bushel reduction in 2015-16 wheat exports, projected at 900 million bushels.
The U.S. corn carryover on Sept. 1, 2016, was projected at 1.592 billion bushels, down 121 million bushels, or 7%, from 1.713 billion bushels projected in August and down 140 million bushels, or 8%, from 1.732 billion bushels forecast in 2015. The USDA 2016 corn carryover was above the pre-report trade average expectation of 1.58 billion bushels, and the 2015 carryover was below the average expectation of 1.77 billion bushels.
The U.S. soybean carryover on Sept. 1, 2016, was projected at 450 million bushels, down 20 million bushels, or 4%, from 470 million bushels in August, but up 240 million bushels, or 114%, from 210 million bushels estimated in 2015. The 2016 USDA soybean carryover number was above the average trade expectation near 396 million bushels. The 2015 USDA number was below the trade average of 288 million bushels.
The rice carryover on Aug. 1, 2016, was projected at 41.5 million cwts, down 900,000 cwts, or 2%, from 42.4 million cwts in August and down 7 million cwts, or 14%, from 48.5 million cwts in 2015.
World wheat ending stocks were forecast at a record 226.5 million tonnes for 2015-16, up from 221.4 million tonnes projected in August and from 211.3 million tonnes in 2014-15. World corn ending stocks were projected at 189.6 million tonnes for 2015-16, down from 195 million tonnes in August and from 197.2 million tonnes forecast for 2014-15. Global 2015-16 soybean ending stocks were projected at 84.9 million tonnes, down from 86.8 million tonnes in August but up from 78.7 million tonnes forecast for the current year.