The February WASDE report was almost the same as January’s, with no changes to the U.S corn balance sheet and only slight adjustments to soybean figures.

USDA left its 2021/22 U.S corn production and yield estimates unchanged from last month’s report at 177 bushels per acre and 15.115 billion bushels, respectively. Exports still stand at 2.425 billion bushels, and endings stocks remain at 1.540 billion bushels, up 305 million bushels YOY.

U.S soybean exports for 2021/22 were also left unchanged at 2.050 billion bushels. Crushings increased by 25 million bushels to 2.215 billion bushels, which dropped ending stocks from 350 million bushels to 325 million bushels.

Higher crush helped raise forecast soybean oil production to a very strong 26.21 billion pounds.

U.S corn ending stocks & corn exports by season

Source: USDA
Posted by: Information Services
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