Larger 2020 wheat and corn carryovers, lower soybean carryover forecast

摘要

The U.S. Department of Agriculture on May 10 projected the carryover of all wheat on June 1, 2020, at 1,141 million bus, up 14 million bus from 1,127 million bus as the forecast carryover for 2019, which was raised 40 million bus from 1,087 million bus as the April projection. The carryover for 2020 was based on forecast 2019 all wheat production of 1,897 million bus, up 13 million bus from 1,884 million bus in 2018, with projected food use in 2019-20 at 965 million bus, up 5 million bus from 2018-29, seed use at 68 million bus, up 6 million bus, feed and residual use at 90 million bus, up 40 million bus, and exports at 900 million bus, down 25 million bus.