3 Big Things Today, Jan. 10, 2025 [Video]

Soybean futures gained overnight while grains were modestly higher as investors square positions ahead of today’s monthly supply and demand reports from the U.S. Department of Agriculture. 

The Ag Department likely will reduce its outlook for corn and bean stockpiles in its monthly supply and demand report scheduled for today. 

The agency will probably project corn inventories at the end of the 2024/2025 marketing year on Aug. 31 at 1.675 billion bushels in today’s World Agricultural Supply and Demand Estimates (WASDE) report, according to a Reuters poll. 

USDA last month forecast ending stocks at 1.738 billion bushels. 

Soybean inventories will likely be seen by the government at 457 million bushels, down from the previous outlook for 470 million bushels, the poll said. 

The government is expected to project wheat stockpiles at the end of the grain’s marketing year on May 31 at 799 million bushels, the survey said. 

USDA in …