Allendale's Rich Nelson Says USDA Increases Corn and Soybean Ending Stocks for 2021-22 in Latest WASDE

 

Oklahoma Farm Report

12 Jan 2022

 

The monthly World Agricultural Supply and Demand Estimates report was released today. This was released with the normal companion report, Crop Production. The next change to US production numbers comes on the January 12 Annual Production Summary. Farm Director, KC Sheperd spoke with Allendale's Rich Nelson and he said the numbers on this report were within reason, "One thing that does stand out is the US corn ending stock number raised from 1.493 billion to now 1.540 And that came was a good drop for export sales, which is actually surprising because we've been above the previous December numbers, so maybe a little disagreement with USDA's bearish looking corn stock number."

 

Nelson said Wheat also showed some interesting news, "USDA did recognize wheat export sales are a problem, so they raised US Wheat stocks. Also on this report, unique to the other markets we actually did see winter wheat plantings reported and really USDA's moderate 700,000 acre increase for Winter wheat plantings were relative with the trade expectations. So on most of these numbers, except for corn export sales, USDA's numbers meet the expectations here."

 

USDA increased corn ending stocks in the 2021-22 crop by 47 million bushels (mb) to 1.54 billion bushels (bb) and increased soybean stocks by 10 mb to 350 mb on Wednesday.

 

USDA also showed a record corn yield in the 2021-22 crop at 177 bushels per acre (bpa), beating the 2017 record of 176.6 bpa.

 

USDA on Wednesday released a slew of numbers with the January World Agricultural Supply and Demand Estimates (WASDE), as well as the Quarterly Grain Stocks report for Dec. 1, Winter Wheat and Canola Seedings and Annual Crop Production.

 

You can also access the full reports here:

 

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