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Sarnia

Higher U-S Corn Ending Stocks Part Of Latest WASDE Report

The USDA has raised it's projected U-S season-ending corn number but has left its wheat and soybean forecast unchanged from a month ago.

The department now expects U-S corn ending stocks to be 25 million bushels higher than it's November report.

The USDA has also left it's predicted season-average farm prices for corn, soybeans and wheat unchanged from last month.

Globally, the department is forecasting an increase in wheat ending stocks of 2 point 6 million tons.

It's latest WASDE report suggests large increases for Canada and the EU will be partially offset by decreases in stocks for Argentina and Ukraine.

Global corn ending stocks for 2015-16 are virtually unchanged - with higher U-S and Canadian stocks offset by lower projected stocks for Brazil and the EU.

And the USDA now expects global oilseed ending stocks to be 1 million tons higher than it's November prediction.

Most of that is based on the department's forecast of higher canola stocks in Canada.

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