Wheat, soy stocks up, corn down
January 12, 2007
by Ron Sterk
WASHINGTION — U.S. wheat carryover on June 1, 2007, was projected at 472 million bus, up 34 million bus from a month ago but down 99 million from a year earlier, the Economic Research Service of the U.S. Department of Agriculture said in its Dec. 12 supply/demand report. The change resulted from a 25-million-bu reduction in exports and a 10-million-bu increase in imports. Soybean carryover on Sept. 1, 2007, was projected at a record 575 million bus, up 10 million from December and up 126 million from last year. The 2006 soybean crop was estimated at 3,188 million bus, down 16 million from the previous estimate, but exports were reduced 25 million to 1,120 million bus. Carryover of corn on Sept. 1, 2007, was projected at 752 million bus, down 183 million from last month and down 1,215 million from Sept. 1, 2006. The 2006 U.S. corn crop was estimated at 10,535 million bus, down 210 million from the previous estimate, while exports were increased by 50 million to 2,250 million bus.