US wheat stocks 4-year low — USDA

US wheat inventories are estimated at 974 mln bsh. down from last month (1 014 mln bsh.), it would be the lowest stocks in the USA seen since 2015, Agritel informs.

"However, the US wheat is still uncompetitive on the international stage compared to Argentinian or Black Sea origins. At world level, end of season wheat stocks are forecasted at 289.5 mln t vs. 286.18 mln t expected by the traders before the publication of the report," analysts note.

USDA said that corn world stocks are estimated at 300.56 mln t vs. 295.96 mln t seen last month.

Wheat export from Ukraine since the start of 2019/20 has reached 13.82 mln t, 4.26 mln t more y-o-y.