World S&D Summary 05/12

World S&D Summary                  05/12
Million metric tons
            --------Corn-------     ------Soybeans-----     -------Wheat------
Crop Year    25-26   25-26   26-27   25-26   25-26   26-27   25-26   25-26   
26-27
Report Dat   04/09   05/12   05/12   04/09   05/12   05/12   04/09   05/12   
05/12
Carryin      295.8   294.8   297.0   123.8   125.9   125.1   259.6   258.9   
279.2
Production  1297.4  1312.7  1295.4   427.2   427.6   441.5   842.1   843.8   
819.1
Ttl Supply  1593.3  1607.5  1592.3   551.0   553.5   566.7  1101.8  1102.7  
1098.3

Feed         814.5   819.2   829.3                           165.5   168.1   
160.9
Crush                                368.0   369.5   383.1
Other        486.0   491.3   485.5    56.2    57.1    57.6   659.3   655.4   
662.3
Total Use   1300.5 1,310.5 1,314.8   424.2   426.6   440.7   824.8   823.5   
823.2

EndCarryou   292.8   297.0   277.5   125.3   125.1   124.8   277.0   279.2   
275.0
Stks/UseRa   22.5%   22.7%   21.1%   29.5%   29.3%   28.3%   33.6%   33.9%   
33.4%

USDA estimated 277.54 mmt of global corn ending stocks in 2026-27, down 6% from 
2025-26. USDA increased its estimate of global ending corn stocks for 2025-26 
from 294.81 mmt to 296.95 mmt, in line with expectations. 

USDA forecasted 124.78 mmt of global soybean ending stocks in 2026-27, down 
less than 1% from 2025-26. USDA increased its estimate of world soybean stocks 
for 2025-26 from 124.79 mmt to 125.13 mmt, in line with expectations. 

USDA forecasted 275.04 mmt of global soybean ending stocks in 2026-27, down 
1.5% from 2025-26. USDA decreased its estimate of world ending wheat stocks for 
2025-26 from 283.12 mmt to 279.21 mmt, less stocks than expected. 

Tuesday’s world ending stocks estimates from USDA were neutral for corn, 
neutral for soybeans, and slightly bullish for wheat.