October 1, 2003

USDA Ups Figures For U.S. Soy, Wheat

The U.S. soybean stockpile dipped to 169 million bushels as the fall harvest started, a skimpy amount but larger than the minimal figure estimated two weeks ago. This year's wheat crop also was larger than thought, the Agriculture Department said on Tuesday.

A thorough survey of farmers and grain elevators found 169 million bushels of soybeans on hand on Sept. 1, 29 million bushels more than USDA estimated two weeks ago.

In a final estimate, USDA pegged the wheat crop at 2.34 billion bushels, 2 percent larger than its previous estimate due to higher yields for durum and other spring wheat.

Source: USDA