WASHINGTON — The U.S. Department of Agriculture in its Sept. 11 World Agricultural Supply and Demand Estimates report forecast the carryover of wheat in the United States on June 1, 2016, at 875 million bus, up 25 million bus, or 3%, from 850 million bus projected in August, and up 122 million bus, or 16%, from 753 million bus in 2015.
The U.S.D.A. 2016 wheat carryover number was above the average of trade expectations at 860 million bus.
The increase in 2016 wheat carryover was the result of a 25-million-bu reduction in 2015-16 wheat exports, projected at 900 million bus.
The U.S. corn carryover on Sept. 1, 2016, was projected at 1,592 million bus, down 121 million bus, or 7%, from 1,713 million bus projected in August and down 140 million bus, or 8%, from 1,732 million bus forecast in 2015. The U.S.D.A. 2016 corn carryover was above the pre-report trade average expectation of 1,580 million bus, and the 2015 carryover was below the average expectation of 1,770 million bus.
The U.S. soybean carryover on Sept. 1, 2016, was projected at 450 million bus, down 20 million bus, or 4%, from 470 million bus in August, but up 240 million bus, or 114%, from 210 million bus estimated in 2015. The 2016 U.S.D.A. soybean carryover number was above the average trade expectation near 396 million bus. The 2015 U.S.D.A. number was below the trade average of 288 million bus.
The rice carryover on Aug. 1, 2016, was projected at 41.5 million cwts, down 900,000 cwts, or 2%, from 42.4 million cwts in August and down 7 million cwts, or 14%, from 48.5 million cwts in 2015.World wheat ending stocks were forecast at a record 226.56 million tonnes for 2015-16, up from 221.47 million tonnes projected in August and from 211.31 million tonnes in 2014-15. World corn ending stocks were projected at 189.69 million tonnes for 2015-16, down from 195.09 million tonnes in August and down from 197.21 million tonnes forecast for 2014-15. Global 2015-16 soybean ending stocks were projected at 84.98 million tonnes, down from 86.88 million tonnes in August but up from 78.73 million tonnes forecast for the current year.