USDA makes small cuts to corn, wheat ending stocks
Few changes the central theme in June report
| 1 min read
The USDA building in Washington, D.C. (Art Wager/iStock/Getty Images)
Glacier FarmMedia | MarketsFarm — The June supply/demand report from the United States Department of Agriculture contained very few changes from May.
The USDA issued its World Agricultural Supply and Demand Estimates on June 12, showing some declines for U.S. corn and wheat ending stocks, while those for soybeans were unchanged.
Globally, the department left its production numbers for corn and soybeans in Argentina and Brazil unchanged. Wheat output in India was raised 510,000 tonnes at 117.51 million.
Domestic corn ending stocks for 24/25 were lowered 50 million bushels to 1.365 billion and those for 25/25 were also cut by 50 million bushels at 1.750 billion.
While the USDA stood pat for the 2024/25 carryover for wheat at 841 million bushels, it sliced 25 million bushels off its estimate for 2025/26 at 898 million.
The carryout for U.S. soybeans remained the same at 350 million bushels for 2024/25 and 295 million for 2025/26.
For South American soybean production in 2024/25, the USDA left Argentina at 49 million tonnes and Brazil at 169 million. For the coming crop year, Argentina remained at 48.50 million tonnes and Brazil at 175 million.
Corn output in Argentina and Brazil held at 50 million and 130 million tonnes, respectively for 2024/25. It’s the same story for 2025/26 with Argentina at and Brazil at 53 million and 131 million tonnes, respectively.
The department is scheduled to publish its survey-based acreage report on June 30, followed by its next WASDE on July 11.
