The US Department of Agriculture on Wednesday published the July edition of its monthly Wasde report.
Below key data in the briefing, and how they difference from the expectations of investors, as polled by Reuters.
| USDA forecasts for 2023 US corn, soybean production |
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| Crop | USDA forecast |
Difference from June |
Difference from market expectation |
| Corn yield | 177.5 | -4.0 | +1.4 |
| Corn production | 15,320 | +55 | +156 |
| Soybean yield | 52.0 | unchanged | +0.8 |
| Soybean production | 4,300 | -210 | +56 |
| Yield data in bushels per acre. Production data in billion bushels | |||
| USDA forecasts for US grain stocks, close of 2022-23 |
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| Crop | USDA forecast |
Difference from last month’s estimate |
Difference from market expectation |
| Corn | 1,402 | -50 | -19 |
| Soybeans | 255 | +25 | +22 |
| Data in million bushels | |||
| USDA forecasts for US grain stocks, close of 2023-24 |
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| Crop | USDA forecast |
Difference from last month’s estimate |
Difference from market expectation |
| Corn | 2,262 | +5 | +13 |
| Soybeans | 300 | -50 | +105 |
| All wheat | 592 | +30 | +24 |
| Data in million bushels | |||
| USDA forecasts for world grain stocks, close of 2022-23 |
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| Crop | USDA forecast |
Difference from June |
Difference from market expectation |
| Corn | 296.30 | -1.25 | -1.8 |
| Soybeans | 102.90 | +1.58 | -1.9 |
| All wheat | 269.31 | +2.65 | -2.9 |
| Data in million tonnes | |||
| USDA forecasts for world grain stocks, close of 2023-24 |
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| Crop | USDA forecast |
Difference from last month’s estimate |
Difference from market expectation |
| Corn | 314.12 | +0.14 | -0.1 |
| Soybeans | 120.98 | -2.36 | -0.4 |
| All wheat | 266.53 | -4.18 | -3.5 |
| Data in million tonnes | |||
| USDA estimates for US wheat harvest, 2022-23 |
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| Crop | USDA forecast | Difference from last month’s estimate |
Difference from market expectation |
| Durum | 54.0 | n/a | -6 |
| Other spring | 478.6 | n/a | +3 |
| Hard red | 577.2 | +52 | +45 |
| Soft red | 422.3 | +2o | +15 |
| White | 206.9 | -2 | -1 |
| Total winter wheat | 1,206.4 | +70 | +59 |
| All wheat | 1,739 | +74 | +57 |
| All data in million bushels | |||
