Corn outlook   

The November 2023/24 U.S. corn outlook is for greater production, domestic use, exports, and ending stocks. 

Corn production is forecast at 15.2 billion bushels, up 170 million from last month. This is due to a 1.9-bushel increase in yield to 174.9 bushels per acre. 

Soybean outlook    

U.S. soybean outlook for 2023/24 is for increased production and ending stocks. This is due to a 25-million-bushel increase in soybean yields, and unchanged crush and exports. Soybean ending stocks are forecast at 245 million bushels. 

Wheat outlook    

The November 2023/24 U.S. wheat outlook is for larger supplies, decreased domestic use, unchanged exports, and higher ending stocks. 

The November 2023/24 global wheat outlook is for increased supplies, slightly lower consumption, lower trade, and greater ending stocks. 

Sugar outlook    

U.S. sugar supply for 2023/24 is up by 12,345 STRV due to lower beginning stocks and imports offset by greater production. 

Ending stocks are projected at 1.569 million STRV, indicating a stocks-to-use ratio of 12.39 percent, up 0.1 percentage points from October. 

Further data and analysis of this month’s WASDE are available to our IQ subscribers. Learn more about becoming a subscriber.

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.