The US Department of Agriculture on Friday published the May edition of its monthly Wasde report.
Below key data in the briefing, and how they differed from the expectations of investors, as polled by Reuters.
| 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 | 1,452 | +35 | +3 |
| Soybeans | 230 | +15 | +7 |
| All wheat | 598 | unchanged | -8 |
| 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 | 2,257 | +35 | +3 |
| Soybeans | 350 | +15 | +5 |
| All wheat | 562 | +6 | -3 |
| Data in million bushels | |||
| USDA forecasts for world grain stocks, close of 2022-23 |
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| Crop | USDA forecast |
Difference from last month’s estimate | Difference from market expectation |
| Corn | 297.55 | +0.14 | -0.11 |
| Soybeans | 101.32 | +0.28 | +0.77 |
| All wheat | 266.66 | +0.38 | +0.38 |
| 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 | 313.98 | +1.08 | +0.86 |
| Soybeans | 123.34 | +0.84 | +1.35 |
| All wheat | 270.71 | +6.37 | +6.06 |
| Data in million tonnes | |||
| USDA estimates for US winter wheat harvest, 2023-24 |
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| Crop | USDA forecast | Change on year |
Difference from market expectation |
| Hard red | 525 | -6 | +5 |
| Soft red | 402 | +65 | -12 |
| White | 209 | -27 | -1 |
| Total winter wheat | 1,136 | +32 | -7 |
| Implied spring wheat, durum | 529 | -17 | n/a |
| All wheat | 1,665 | +15 | -7 |
| Data in thousand bushels |
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