USDA raises 2018 wheat carryover forecast by 3%

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USDA raises 2018 wheat carryover forecast by 3%

The U.S. Department of Agriculture in its Jan. 12 World Agricultural Supply and Demand Estimates report forecast the carryover of U.S. wheat on June 1, 2018, at 989 million bushels, up 29 million bushels, or 3%, from the December forecast but down 192 million bushels, or 16%, from 1.181 billion bushels in 2017. The increase was based on lower use for seed, feed and residual and higher imports.

The carryover of corn on Sept. 1, 2018, was forecast at 2.477 billion bushels, up 40 million bushels, or 1.6%, from December and up 184 million bushels, or 8%, from 2.293 billion bushels in 2017. Soybean carryover on Sept. 1, 2018, was forecast at 470 million bushels, up 25 million bushels, or 6%, from December and up 168 million bushels, or 56%, from 302 million bushels in 2017.

world-grain

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