Tidbits, Carryover, Call Options, S&D Estimates 12/7/25
- Wright team
- 1 hour ago
- 5 min read
Tidbits
Carryover, aka carryout, is the amount of old crop grain or oilseed that was not used during the marketing year. The job of the market is to make sure we never run out of food or fiber during every marketing year. When necessary, the market rations all commodities by raising the price so users will use less.
USDA reports the carryovers in terms of millions of bushels for the domestic Supply and Demand (S&D) and in terms of million metric tons (mts) for the world S&D. The U.S. is the only country that uses bushels.
Wright on the Market converts those carryover numbers to the number of days into the next marketing year the carryover would meet the needs of the U.S. and the world.
For example, the USDA reported in November the U.S. wheat carryover for the current marketing year was projected to be 901 million bushels. Well, shucks, that is nice to know, but what does 901 million bushels mean to the price action?
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