The US Department of Agriculture will on Friday 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 2023-24.
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 2022-23 |
| Corn yield | 180.7 | 178.0-183.5 | 181.5 | 173.3 |
| Corn production | 15.120 | 14.550-15.300 | 15.085 | 13.730 |
| Soybean yield | 51.8 | 51.0-52.0 | 52.0 | 49.5 |
| Soybean production | 4.494 | 4.417-4.530 | 4.510 | 4.276 |
| Yield data in bushels per acre. Production 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 | 1.366 | 1.242-1.472 | 1.342 |
| Soybeans | 0.212 | 0.179-0.250 | 0.210 |
| All wheat | 0.603 | 0.593-0.622 | 0.598 |
| All data in billion bushels | |||
| Market expectations for USDA estimates of US grain stocks, close of 2023-24 |
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| Crop | Mean forecast | Range of forecasts | USDA’s existing estimate |
| Corn | 2.094 | 1.700-2.462 | N/A |
| Soybeans | 0.293 | 0.225-0.371 | N/A |
| All wheat | 0.602 | 0.535-0.690 | N/A |
| All data in billion bushels | |||
| 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 | 295.2 | 293.0-299.0 | 295.4 |
| Soybeans | 99.0 | 95.0-101.8 | 100.3 |
| All wheat | 265.1 | 263.00-267.00 | 265.1 |
| All data in million tonnes | |||
| Market expectations for USDA estimates of world grain stocks, close of 2023-24 |
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| Crop | Mean forecast | Range of forecasts | USDA’s existing estimate |
| Corn | 307.5 | 295.0-327.1 | N/A |
| Soybeans | 108.1 | 99.5-134.0 | N/A |
| All wheat | 259.7 | 245.7-270.0 | N/A |
| All data in million tonnes | |||
| Market expectations for USDA estimates of US winter wheat harvest, 2023-24 |
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| Crop | Mean forecast | Range of forecasts | USDA’s 2022- 23 estimate |
| Hard red | 0.591 | 0.492-0.680 | 0.531 |
| Soft red | 0.399 | 0.345-0.439 | 0.337 |
| White | 0.237 | 0.163-0.270 | 0.236 |
| Total winter wheat | 1.230 | 1.080-1.329 | 1.104 |
| Spring wheat + durum | 0.559 | 0.560-595 | 0.546 |
| All wheat | 1.789 | 1.650-1.924 | 1.650 |
| All data in billion bushels | |||
