Home Crop Monitoring Latest USDA production estimates come in under trade expectations

Latest USDA production estimates come in under trade expectations

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The newest estimates of the U.S. corn and soybean crops are in, and the numbers are barely decrease than anticipated.

Vital drought in a big space of the U.S. is dragging down the US Division of Agriculture’s projected common corn yield, now pegged at 174.6 bu/ac down from 179.5 bu/ac a month in the past.

Soybean crop production was additionally dialled again .8 bu/ac to a good 50 bu/ac.

Preliminary buying and selling was constructive for each corn and soybean costs.

Ending inventory projections for corn had been adjusted downward and settled in slightly below 1.2 billion bushels

Courtesy of Grain Views

The 2021/22 world oilseed provide and demand forecasts embrace decrease production, crush, exports, and barely increased ending shares in comparison with final month. The WASDE pegs non-U.S. oilseed production down 3.6 million tons to 501.4 million, reflecting decrease canola production for Canada and sunflowerseed for Russia. The U.S. is estimating Canada’s canola crop shrunk by 4.2 million tonnes.

 

See the total report, right here.



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