The 2023/24 U.S. corn outlook is for reduced supplies, lower domestic use, smaller exports, and tighter ending stocks.
U.S. corn production is forecast15.1 billion bushels, down 209 million from the July’s projection.
The 2023/24 outlook for U.S. soybeans is for higher beginning stocks and lower production, as well as reduced exports and supplies. Ending stocks are forecast at 245 million bushels, down 55 million from July’s estimates.
The 2023/24 outlook for U.S. wheat is for decreased supplies, slightly lower domestic use, reduced exports, and higher stocks compared to last month.
The global wheat outlook for 2023/24 estimates reduced supplies, lower consumption, decreased trade, and lower stocks.
U.S. sugar beet production for 2023/24 is projected at 5,073,061 STRV, a 51,302 STRV increase from previous estimates.
The stocks-to-use ratio is projected at 15.24 percent, an increase of 1.74 percentage points compared to last month’s projections.
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Posted by: Information Services Our Information Services team assists our clients with understanding commodity and ingredient market dynamics. Using our extensive database of intelligence, we also produce regular commodity and commercial market publications covering supply and demand fundamentals, news alerts on events that shape the markets, and resource guides to give you a complete picture of the industries we monitor.