June WASDE Report Estimates
Corn Ending Stocks at New Record High
June 15, 2020
The June WASDE Report, released last Thursday, estimated for the 2020-2021 market year US ending stocks at 3,323 million bushels, up 5 million bushels from the MAY WASDE Report of 3,318 million bushels. The Trade estimate for June was 3,340 million bushels, so it was temporarily bullish to prices. However, because the estimated ending stocks remain at a significant record high, prices retreated on Friday and will remain under pressure.
The chart below can be constructed in the Fundamental Analytics platform under Fundamentals > PSD > Corn > Ending Stocks.
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The Fundamental Analytics Team
The information provided here is for general informational purposes only and should not be considered individualized investment advice. All expressions of opinion are subject to change without notice in reaction to shifting market conditions.