The US Department of Agriculture on Thursday published the May edition of its monthly Wasde report, giving first full estimates for world ag supply and demand in 2022-23.

Below key data in the briefing, and how they difference from the expectations of investors, as polled by Reuters.

 

USDA forecasts for 2022 US corn, soybean production
Crop USDA forecast
 Change on year
 Change on Outlook Forum forecast
 Difference from market expectation
Corn yield 177.0 unchanged -4.0 -2.6
Corn production 14,460 -655 -780 -313
Soybean yield 51.5 +0.1 unchanged +0.1
Soybean production 4.640 +205 +150 +27
Yield data in bushels per acre. Production data in billion bushels

 

USDA forecasts for US grain stocks, close of 2022-23
Crop USDA forecast
 Change on year
 Change on Outlook Forum forecast
 Difference from market expectation
Corn 1,360 -80 -605 +8
Soybeans 310 +75 +5 -7
All wheat 619 -36 -112 -50
 Data in million bushels

 

USDA forecasts for US grain stocks, close of 2021-22
Crop USDA forecast
 Difference from last month’s estimate
 Difference from market expectation
Corn 1,440 unchanged +28
Soybeans 235 -25 +10
All wheat 655 -23 -31
 Data in million bushels

 

USDA forecasts for world grain stocks, close of 2022-23
Crop USDA forecast
 Change on year
 Difference from market expectation
Corn 305.13 -4.26 +8.22
Soybeans 99.60 +14.36 +2.37
All wheat 267.02 -12.70 -5.05
 Data in million tonnes

 

USDA forecasts for world grain stocks, close of 2021-22
Crop USDA forecast
 Difference from last month’s estimate
 Difference from market expectation
Corn 309.39 +3.93 +6.37
Soybeans 85.24 -4.38 -3.74
All wheat 279.72 +1.30 +1.42
 Data in million tonnes

 

USDA estimates for US winter wheat harvest, 2022-23
Crop USDA forecast Change on year
 Difference from market expectation
Hard red 590.037 -159.452 -95
Soft red 353.503 -7,186 -5
White 230.007 +62.820 +31
Total winter wheat 1,173.547 -103,818 -65.453
All wheat 1,729 +83 +62
All data in million bushels