World S&D Summary 7/10/26

World S&D Summary             7/10/26
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 7/10/26 6/11/26 7/10/267/10/26 6/11/26 7/10/267/10/26 6/11/26 7/10/26
Carryin     296.21  303.36  298.67 125.93  125.52  125.33 259.88  279.95  279.04
Production 1327.70 1300.38 1297.09 429.46  441.34  441.70 843.77  820.06  819.97
Ttl Supply 1623.91 1603.74 1595.76 555.39  566.86  567.031103.65 1100.01 1099.01

Feed        825.49  832.56  833.08                        169.31  162.21  162.26
Crush                              372.49  383.09  384.17
Other       499.75  489.96  487.42  56.84   57.69   57.55 655.30  662.38  663.91
Total Use  1325.24 1322.52 1320.50 429.33  440.78  441.72 824.61  824.59  826.17

EndCarryou  298.67  281.22  275.26 125.33  124.88  124.17 279.04  275.42  272.84
Stks/UseRa   22.5%   21.3%   20.8%  29.2%   28.3%   28.1%  33.8%   33.4%   33.0%

USDA estimated 275.3 mmt of global corn ending stocks in 2026-27, down 8% from 
2025-26. USDA reduced its estimate of global ending corn stocks for 2025-26 
from 303.4 mmt to 298.7 mmt, lower stocks than expected. 

USDA forecasted 124.2 mmt of global soybean ending stocks in 2026-27, down less 
than 1% from 2025-26. USDA slightly decreased its estimate of world soybean 
stocks for 2025-26 from 125.5 mmt to 125.3 mmt, just below pre-report 
expectations. 

USDA forecasted 272.8 mmt of global wheat ending stocks in 2026-27, down 2% 
from 2025-26. USDA slightly decreased its estimate of world ending wheat stocks 
for 2025-26 from 279.95 mmt to 279.04 mmt, close to expectations. 

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