Wheat, soy stocks down, corn up
July 12, 2007
by Ron Sterk
WASHINGTON — In its July World Agricultural Supply and Demand Estimates, the U.S. Department of Agriculture projected 2007-08 wheat ending stocks at 418 million bus, down 25 million from 443 million forecast in June and down 38 million from 456 million a year earlier. Click here to read report. Total supply for 2007-08 was forecast at 2,694 million bus, up 10 million from June, domestic use at 1,226 million, down 15 million, and exports at 1,050 million, up 50 million. Soybean ending stocks for 2007-08 were projected at 245 million bus, down 75 million from June and down 355 million from 2006-07. Total supply was forecast at 3,229 million bus, down 130 million bus from June, and total use at 2,985 million bus, down 54 million. Corn ending stocks for 2007-08 were forecast at 1,502 million bus, up 505 million from June due to a 530-million-bu increase in total supply, to 13,992 million, partially offset by a 25-million increase exports, to 2,000 million.