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.
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.
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.
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.
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