The US Department of Agriculture will on Thursday reveal the May edition of its monthly Wasde report, giving estimates for world ag supply and demand.
This edition is a particularly important one, in giving the USDA’s first full forecasts for 2022-23.
Below expectations of what investors, as polled by Reuters, expect the report to show.
| Market expectations for USDA forecasts for 2022 US corn, soybean production |
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| Crop | Mean forecast | Range of forecasts | USDA Outlook Forum | USDA 2021-22 |
| Corn yield | 179.6 | 175.30-182.0 | 181.0 | 177.0 |
| Corn production | 14.773 | 14.414-15.115 | 15.240 | 15.115 |
| Soybean yield | 51.4 | 50.0-53.0 | 51.5 | 51.4 |
| Soybean production | 4.613 | 4.435-4.727 | 4.490 | 4.435 |
| Yield data in bushels per acre. Production data in billion bushels | ||||
| Market expectations for USDA estimates of US grain stocks, close of 2021-22 |
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| Crop | Mean forecast | Range of forecasts | USDA’s existing estimate |
| Corn | 1.412 | 1.340-1.456 | 1.440 |
| Soybeans | 0.225 | 0.175-0.260 | 0.260 |
| All wheat | 0.686 | 0.650-0.738 | 0.678 |
| All data in billion bushels | |||
| Market expectations for USDA estimates of US grain stocks, close of 2022-23 |
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| Crop | Mean forecast | Range of forecasts | USDA’s existing estimate |
| Corn | 1.352 | 0.988-1.654 | N/A |
| Soybeans | 0.317 | 0.187-0.488 | N/A |
| All wheat | 0.659 | 0.550-0.854 | N/A |
| All data in billion bushels | |||
| Market expectations for USDA estimates of world grain stocks, close of 2021-22 |
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| Crop | Mean forecast | Range of forecasts | USDA’s existing estimate |
| Corn | 303.76 | 299.30-308.00 | 305.46 |
| Soybeans | 88.98 | 88.00-90.50 | 89.58 |
| All wheat | 278.30 | 275.00-282.00 | 278.42 |
| All data in million tonnes | |||
| Market expectations for USDA estimates of world grain stocks, close of 2022-23 |
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| Crop | Mean forecast | Range of forecasts | USDA’s existing estimate |
| Corn | 296.91 | 278.00-307.7 | N/A |
| Soybeans | 97.23 | 89.40-107.80 | N/A |
| All wheat | 272.07 | 261.00-286.80 | N/A |
| All data in million tonnes | |||
| Market expectations for USDA estimates of US winter wheat harvest, 2022-23 |
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| Crop | Mean forecast | Range of forecasts | USDA’s existing estimate |
| Hard red | 0.685 | 0.568-0.779 | 0.749 |
| Soft red | 0.359 | 0.295-0.393 | 0.361 |
| White | 0.199 | 0.161-0.237 | 0.167 |
| Total winter wheat | 1.239 | 1.146-1.323 | 1.277 |
| All wheat | 1.791 | 1.635-1.915 | 1.646 |
| All data in billion bushels | |||
