Friday, June 13, 2025
- Yesterday's release of the USDA monthly Wasde report was uneventful as some of the data showed no changes from last month. Looking at the domestic stockpiles for the 2024-25 marketing year ending at the end of August, domestic corn ending stocks fell from 1.415 to 1.365 billion bushels. Domestic soybeans and domestic wheat remained the same as in the May update with 350 million bushels for soybeans and 841 million bushels for wheat. Global ending stocks for the 2025-26 marketing year saw decreases for corn and wheat, a small increse in soybeans. Global corn stockpiles fell from 277.84 to 275.24 MMT over the past month. World soybean ending stocks increased from 124.33 to 125.30 MMT. Global wheat stockpiles fell from 265.73 to 262.76 MMT. No changes regarding Brazil and Argentina crop output for the 2024-25 marketing year. Brazil corn production is estimated at 130 MMT and Brazil soybeans at 169 MMT. Argentina corn production is expected at 50 MMT and soybeans remaining at 49 MMT.