WASHINGTON — The U.S. Department of Agriculture in its Aug. 12 World Agricultural Supply and Demand Estimates report projected U.S. wheat carryover on June 1, 2017, at 1,100 million bus, down 5 million bus from the July projection but up 12% from 981 million bus in 2016. U.S. corn carryover on Sept. 1, 2017, was projected at 2,409 million bus, up 16% from July and up 41% from 1,706 million bus forecast for 2016. Soybean carryover on Sept. 1, 2017, was projected at 330 million bus, up 14% from the July projection and up 29% from 255 million bus forecast as the 2016 carryover. The 2017 U.S.D.A. numbers compared with average pre-report trade expectations of 1,115 million bus for wheat, 2,287 million bus for corn and 323 million bus for soybeans. Corn and soybean futures were lower after the report while wheat futures were mixed.
