Photo: Rusty Halvorson/KFGO Ag News
USDA cut domestic corn ending stocks more sharply than pre-report estimates and boosted corn exports by 100 million bushels.
In USDA’s latest World Agricultural Supply and Demand Estimates (WASDE) and Crop Production reports released Thursday, ending stocks for corn in the 2024-25 crop were lowered to 1.465 billion bushels with 100 million more bushels of export demand. Corn production for the 2024-25 crop was held at 14.87 billion bushels. USDA held the national yield at 179.3 bushels per acre. Harvested acres were 82.9 million.
In soybeans, USDA lowered ending stocks for the old-crop 2024-25 by 5 million bushels to 375 million bushels, within the range of pre-report expectation.
This month’s supply and demand outlook for 2024/25 U.S. wheat is for larger supplies, slightly smaller domestic use, reduced exports, and increased ending stocks. Supplies are raised on higher projected imports, up 10 million bushels to 150 million, with increases for Hard Red Spring (HRS), Durum, White, and Hard Red Winter (HRW). At this level, imports would be the largest since 2017/18.
You can view the full report here.
USDA
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