The US Department of Agriculture on Thursday, on the first day of its two-day Outlook Forum, published forecasts for US crops in 2023-24.
Below key data for corn, soybeans and wheat, and how they differed from the expectations of investors, as polled by Reuters.
| USDA Outlook Forum forecasts for US corn, 2023-24 |
|||
| USDA forecast |
Difference from 2022-23 |
Difference from market expectation |
|
| Sowings | 91.0 | +2.4 | +0.1 |
| Yield | 181.5 | +8.0 | +1.8 |
| Production | 15,085 | +1,355 | +136 |
| End stocks | 1,887 | +620 | +78 |
| Area in million acres. Yield in tonnes per acre. Production, stocks in million bushels | |||
| USDA Outlook Forum forecasts for US soybeans, 2023-24 |
|||
| USDA forecast |
Difference from 2022-23 |
Difference from market expectation |
|
| Sowings | 87.5 | in line | -1.1 |
| Yield | 52.0 | +2.5 | +0.5 |
| Production | 4,510 | +234 | -5 |
| End stocks | 290 | +65 | -29 |
| Area in million acres. Yield in tonnes per acre. Production, stocks in million bushels | |||
| USDA Outlook Forum forecasts for US wheat, 2023-24 |
|||
| USDA forecast |
Difference from 2022-23 |
Difference from market expectation |
|
| Sowings | 49.5 | +3.8 | +0.8 |
| Yield | 49.2 | +2.7 | +0.6 |
| Production | 1,887 | +237 | -6 |
| End stocks | 608 | +40 | -42 |
| Area in million acres. Yield in tonnes per acre. Production, stocks in million bushels | |||
