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USDA makes no changes in forecasts

from Food Business News

The U.S. Department of Agriculture left unchanged its 2015-2016 supply-and-demand balance sheets for all-wheat and corn while making only minor adjustments to its soybean supply-and-use forecasts. Given the lack of surprise, futures markets largely shrugged off the March World Agricultural Supply and Demand Estimates report. The U.S.D.A. forecast the carryover of wheat on June 1, 2016, at 966 million bus, unchanged from the February projection and up 214 million bus, or 28 percent, from 752 million bus in 2015. If the forecast is realized, the 2016 wheat carryover would be the largest since 976 million bus in 2010. more


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