USDA Supply & Demand Report – April 10, 2018

On the global scene, 2017-18 wheat production is estimated to increase by 1 million tonnes to a record 759.8 million tonnes. World wheat ending stocks are up 2.33 million tonnes to a record 271.22 million tonnes. Projected 2017-18 U.S. wheat ending stocks are raised this month by 30 million bushels to 1.064 billion bushels, due to an anticipated decrease in feed and residual use.

2017-18 U.S. corn ending stocks are projected to increase by 55 million bushels to 2.182 billion bushels, also due to a projected decrease in feed and residual use.

U.S. soybean ending stocks for 2017-18 are projected to be 550 million bushels, down 5 million bushels from last month. The soybean crush was raised by 10 million bushels to a record 1.97 billion bushels.

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