The U.S. Department of Agriculture in its May 9 World Agricultural Supply and Demand Estimates projected 2014-15 global ending stocks of wheat at 187.42 million tonnes, up 890,000 tonnes from 186.53 million tonnes estimated for the current year. It was the department’s initial projection for 2014-15.
The U.S.D.A. 2014-15 ending stocks projection was above the average trade expectation near 184 million tonnes.
World wheat production for 2014-15 was projected at 697.04 million tonnes, compared with 714 million tonnes in 2013-14, consumption at 696.15 million tonnes, compared with 702.8 million tonnes, and exports at 151.82 million tonnes, compared with 162 million tonnes.
World corn ending stocks were projected at 181.73 million tonnes for 2014-15 compared with 168.42 million tonnes in 2013-14. The 2014-15 corn ending stock projection was well above the average trade estimate of 160 million tonnes.
World soybean ending stocks for the next marketing year were projected at 82.23 million tonnes compared with 66.98 million tonnes in 2013-14. The 2014-15 projection was above the average trade expectation near 81 million tonnes.
Global rice carryover was projected at 109.77 million tonnes in 2014-15 compared with 111.25 million tonnes in 2013-14.
