The US Department of Agriculture will late on Friday reveal the August edition of its monthly Wasde report, giving estimates for world ag supply and demand.
Below expectations of what investors, as polled by Reuters, expect the report to show.
| Market expectations for USDA forecasts for 2023 US corn, soybean production |
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| Crop | Mean forecast | Range of forecasts | USDA’s existing estimate |
| Corn yield | 175.5 | 172.4-178.0 | 177.5 |
| Corn production | 15.130 | 14.765-15.361 | 15.320 |
| Soybean yield | 51.2 | 49.3-52.0 | 52.0 |
| Soybean production | 4.234 | 4.100-4.300 | 4.300 |
| Area data in million acres. 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 | 1.411 | 1.277-1.460 | 1.402 |
| Soybeans | 0.262 | 0.220-0.276 | 0.255 |
| 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 | 2.197 | 1.961-2.526 | 2.262 |
| Soybeans | 0.260 | 0.177-0.360 | 0.300 |
| All wheat | 0.595 | 0.560-0.635 | 0.592 |
| 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 | 297.1 | 296.0-299.9 | 296.3 |
| Soybeans | 102.7 | 101.8-103.4 | 102.9 |
| All wheat | 269.5 | 268.6-270.5 | 269.3 |
| All data in million tonnes | |||
| Market expectations for USDA estimates of world grain stocks, close of 2023-24 |
|||
| Crop | Mean forecast | Range of forecasts | USDA’s existing estimate |
| Corn | 314.3 | 310.0-322.3 | 314.1 |
| Soybeans | 119.7 | 116.0-122.6 | 121.0 |
| All wheat | 266.1 | 264.0-268.5 | 266.5 |
| All data in million tonnes | |||
| Market expectations for USDA estimates of US wheat harvest, 2023-24 |
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| Crop | Mean forecast | Range of forecasts | USDA’s existing estimate |
| Durum | 0.055 | 0.054-0.062 | 0.054 |
| Other spring wheat | 0.474 | 0.456-0.495 | 0.479 |
| Hard red | 0.578 | 0.570-0.588 | 0.577 |
| Soft red | 0.421 | 0.366-0.436 | 0.422 |
| White | 0.207 | 0.200-0.223 | 0.207 |
| Total winter wheat | 1.206 | 1.175-1.226 | 1.206 |
| All wheat | 1.735 | 1.695-1.775 | 1.739 |
| All data in billion bushels | |||
