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Grains & Oilseeds with Craig Turner | Ag Forum Estimates Larger Ending Stocks for 2024/25 Marketing Year
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The Ag Forum has new crop endings stocks for corn, soybeans, and wheat expanding during the 2024/25 marketing year. Corn could be 2.5 billion and 18% stock to usage. Bearish! Soybeans at 87.5mm acres, a 52 yield, and 400 carryout is neutral but prices are still historically elevated. Wheat acres are lower but a higher yield increases ending stocks to around 700mm. Moral of the story is the grain and oilseed markets are transitioning from tight/adequate stocks levels to adequate/burdensome stock levels.
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