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Insights on the Upcoming USDA March World Crop End-Stocks Report

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MARCH 4 (Reuters) – Traders and investors eagerly await the imminent release of the United States Department of Agriculture (USDA) March crop supply/demand report. This forthcoming publication will shed light on the anticipated 2023-24 global ending stocks for wheat, corn, and soybeans. The report is scheduled for unveiling on Friday, March 8, precisely at 12 p.m. EST (1700 GMT).

Precisely, Reuters conducts surveys among analysts to glean their projections for the USDA report’s content, alongside the analysts’ individual estimates. These numerical representations are distinctly shared by Reuters.

It is noteworthy that the wheat marketing year commences on June 1 and concludes on May 31. Conversely, for corn and soybeans, the marketing year kicks off on September 1 and wraps up on August 31.

Keep in mind that all figures mentioned throughout this piece are denominated in millions of metric tons.

Forecasting the USDA Results:

Wheat

Corn

Soybeans

Average Trade Estimate

259.12

320.39

114.27

Highest Trade Estimate

260.21

322.06

118.00

Lowest Trade Estimate

257.00

317.00

111.00

USDA February Figures

259.44

322.06

116.03

Estimates from Various Analyst Groups:

ADM Investor Services

258.50

321.00

114.00

AgriSompo

259.20

321.80

114.50

Allendale Inc

259.04

322.06

117.03

Brugler Marketing

259.00

321.00

114.00

CHS Hedging

259.20

319.80

115.10

Freed Consulting

260.00

320.00

113.00

Grain Cycles

258.00

320.50

114.00

And the list continues…

Analysts’ Own Projections:

Wheat

Corn

Soybeans

Average Trade Estimate

258.85

319.64

113.43

Highest Trade Estimate

260.21

321.00

114.00

Lowest Trade Estimate

257.00

318.00

112.00

Insights from Different Analyst Firms:

ADM Investor Services

258.50

321.00

114.00

Linn & Associates

260.00

321.00

114.00

StoneX Group Inc

260.21

318.72

113.38

And further projections await the light of publication…

For further market updates and deep dives into USDA reports, stay tuned to credible financial news sources. Remember, the market is a volatile sea, and as investors, we must navigate it with insight and caution.

Contact Rahul Paswan ([email protected]; +1 646 223 8780) for any inquiries.

The opinions voiced by the author solely represent their perspective and not necessarily the stance of Nasdaq, Inc.

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