The US Department of Agriculture on Friday revealed revised data on the 2023 US wheat harvest, and a quarterly briefing on US grain stocks.

Below key data in the briefings, and how these numbers differed from market expectations.

 

USDA estimates for US wheat production, 2023
Crop Production estimate Difference from previous estimate
 Difference from market forecast Difference from 2022
Hard red winter 601 +16 +17 +69
Soft red winter 449 +9 +11 +112
White winter 198 -4 -3 -38
All winter wheat 1,248 +21 +25 +144
Durum 59 +2 +2 -5
Other spring wheat 505 +55 +59 +23
All wheat 1,812 +78 +83 +162
All data in million bushels

 

USDA estimates for US wheat production, 2023
Crop Production estimate Difference from previous estimate
 Difference from market forecast
Hard red winter 16.36 +0.44 +0.46
Soft red winter 12.22 +0.24 +0.30
White winter 5.39 -0.11 -0.08
All winter wheat 33.97 +0.57 +0.68
Durum 1.61 +0.05 +0.05
Other spring wheat 13.74 +1.50 +1.61
All wheat 49.31 +2.12 +2.26
All data in million tonnes

 

USDA estimates for US grain inventories, as of September 1
Crop Stocks Difference from September Wasde
 Difference from market forecast Difference from year before
Corn 1,361 -91 -68 -16
Soybeans 268 +18 +26 -6
All wheat 1,780 n/a +8 +2
All data in million bushels