March ’16 USDA World Agriculture Supply and Demand Estimates
*Significant changes are highlighted
’14/’15 Corn
o No change
’15/’16 Corn
o No change
o Ending stocks at 1.837 billion bushels or 49.5 days of use was below with private estimates.
’14/’15 Soybeans
o No change
’15/’16 Soybeans
o Crush was reduced by another 10 million bushels.
o Ending stocks at 460 million bushels or 45.5 days of use was in line with private estimates.
Other Markets
o US meat production is increased slightly on higher broiler and turkey output offsetting lower beef and pork projections.
o US dairy production is estimated slightly lower on a less milk per cow.
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March ’16 USDA World Agriculture Supply and Demand Estimates