In its March WASDE report, USDA made minor changes to the U.S. corn and soybean demand forecasts. USDA did not change its prior 2021/22 U.S. corn production estimate of 15.115 billion bushels. However, it did add 25 million bushels to both food, seed & [...]
Ahead of Monday’s July WASDE, the industry is expecting 2021/22 U.S. corn production up by over 117.5 million bushels from the previous forecast as higher acreage more than offsets a slight drop in yield. The industry also expects USDA to lower its 2020/21 corn [...]
In the May WASDE, 2021/22 corn production is forecast at 14.990 billion bushels on 91.1 million harvested acres and yield of 179.5 bushels per acre (bpa). Yield is in line with expectations, but the industry expected new-crop area and production to be higher. New-crop [...]
In the January WASDE, USDA dropped its total 2020/21 U.S. corn supply estimate by 400 million bushels, with new crop production now estimated at 14.182 billion bushels, down 325 million bushels from the December estimate. USDA’s cuts to domestic use and exports in 2020/21 [...]
Friday’s WASDE report noted some expected changes to the domestic corn balance sheet, including supply reductions that were partially offset by adjustments to demand projections. Planted and harvested acreage for 2020/21 were both reduced by 1 million acres, with the latter now pegged at [...]
In the October WASDE, 2020/21 corn harvested area was pegged at 82.5 million acres, down 1 million acres from the September WASDE estimate. This change and slightly lower yield dropped 2020/21 corn production to 14.722 billion bushels, which is 101 million bushels below the [...]
The average industry estimate for corn and soybean production is 14.823 billion bushels and 4.288 billion bushels, respectively. At these levels, the corn crop would still be the second largest on record, while soybean production would be the fourth largest on record. The trade [...]
Despite the estimated impact of the derecho event last month, the 2020/21 U.S. corn crop still looks to be one of the largest on record. With a minor boost to beginning stocks, total supply is projected to increase 8 percent over last year and [...]
