Corn outlook

The 2023/24 U.S. corn outlook is for higher beginning and ending stocks.

Forecast U.S. corn production is unchanged from last month, projected at 15.3 billion bushels.

Soybean outlook

The 2023/24 outlook for U.S. soybeans is for higher beginning and ending stocks, reflecting reduced exports, increased supplies, and no changes in use.

Wheat outlook

The 2023/24 outlook for U.S. wheat is for larger supplies, unchanged domestic use and exports, and higher stocks. U.S. wheat production is projected at 1,665 million bushels, a 6 million bushel increase from last month.

The global wheat outlook for 2023/24 estimates increases in supplies, consumption, trade, and stocks.

Sugar outlook

U.S. sugar beet production for 2023/24 is projected at 5.171 million short tons, raw value (STRV). Beet sugar production is down by 11,468 STRV, and cane sugar is down by 87,032 STRV on processors’ projections in Florida and Texas.

The stocks-to-use ratio is projected at 10.56 percent, down from last month’s 11.26 percent.

Further data and analysis of this month’s WASDE are available to our IQ subscribers. Log in to read more.

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.