(WASHINGTON D.C.)– On Tuesday morning, USDA released the latest World Agricultural Supply and Demand Estimates report for the month of September.
In the report, USDA says that this year’s estimated corn yield is 173.8 bushels per acre (bpa) with an estimated soybean yield at 50.1 bpa. USDA increased harvested area in corn by 750,000 acres as corn production came in a bit higher than pre-report expectations. Soybean production was close to pre-report expectations with only minor adjustments to harvested area.
Ending stocks for 2023-24 came in at 2.221 billion for corn, 220 million bushels for soybeans and 615 million bushels for wheat.
Corn demand was also not adjusted in this USDA report.
View the full report here: https://www.usda.gov/oce/commodity/wasde
Stay tuned for commentary and analysis with Arlan Suderman, Chief Commodities Economist at StoneX: