# USDA Ag Outlook Ending Stock Estimates

> DTN compared USDA's February U.S. ending stock estimates for 2023/24 with the February 2023 Ag Outlook projections. Corn stocks at 2.172 billion bushels were 16.3% above the year-ago forecast, the second-largest upward overstatement since 2008/09, while wheat and soybean stocks were also above year-ago projections.

- Date: 2024-02-13 · published 2024-02-13T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/31634-usda-ag-outlook-ending-stock-estimates
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Persistently higher-than-projected U.S. stocks suggest the market has been underestimating supply, which supports a bearish outlook for feed grain prices.

## Read by commodity

- SOY: neutral
- CORN: bearish ▼
- WHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2018-01-12 | [USDA increases U.S. corn, soybean, wheat ending stocks estimates - Brownfield Ag News](https://feedsoft.ai/events/66935-usda-increases-u-s-corn-soybean-wheat-ending-stocks-estimates-brownfield-ag-news.md) | +1.7% | +3.5% |
| CORN | 2018-10-12 | [USDA raises corn, soybean and wheat ending stocks estimates \| 2018-10-12  \| World Grain](https://feedsoft.ai/events/62480-usda-raises-corn-soybean-and-wheat-ending-stocks-estimates-2018-10-12-world.md) | +2.4% | +3.2% |
| CORN | 2016-11-09 | [USDA raises U.S. corn, soybean ending stocks - Brownfield Ag News](https://feedsoft.ai/events/73820-usda-raises-u-s-corn-soybean-ending-stocks-brownfield-ag-news.md) | -6.6% | -4.5% |
| CORN | 2018-12-12 | [USDA Release Latest Supply and Demand Estimates -](https://feedsoft.ai/events/61687-usda-release-latest-supply-and-demand-estimates.md) | +1.1% | +1.4% |
| CORN | 2023-06-12 | [USDA Increases Corn, Soybean, Wheat Ending Stocks - ProAg](https://feedsoft.ai/events/35444-usda-increases-corn-soybean-wheat-ending-stocks-proag.md) | +6.8% | -3.2% |
| SOY | 2017-12-12 | [USDA lowers corn ending stocks estimate - Brownfield Ag News](https://feedsoft.ai/events/67346-usda-lowers-corn-ending-stocks-estimate-brownfield-ag-news.md) | -2.1% | -3.6% |
| SOY | 2021-05-13 | [USDA increases soybean product ending stocks estimates - Brownfield Ag News](https://feedsoft.ai/events/47160-usda-increases-soybean-product-ending-stocks-estimates-brownfield-ag-news.md) | -7.4% | -7.0% |
| SOY | 2022-01-18 | [USDA estimates ‘I’ state records – AgriNews](https://feedsoft.ai/events/13395-usda-estimates-i-state-records-agrinews.md) | +3.4% | +15.7% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/Ag/blogs/fundamentally-speaking/blog-post/2024/02/13/usda-ag-outlook-ending-stock

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.