USDA May S&D Numbers 5/12/26

Old crop carryovers were just about as expected for everything except world wheat was 3.8 million mts less than expected and 2.8 million mts less than the lowest estimate.

That small old crop wheat carryover and short new crop production made the new crop wheat world carryover just above the lowest estimate and well below expectations.

World new crop corn carrover was 9.2 million mts less than expected. Note the world corn carryover has been relatively tight for several years.

The new crop U.S. bean carryover 43 million bushels less than expected and just 10 million above the lowest estimate.  

CBOT 65 Minutes After The May S&D Report

• July corn +3

• Dec Corn +3

• July Beans +14

• Nov Benas +12

• July CBOT wheat +41

• July KC wheat +45

• Sept Spring wheat +36