Report Snapshot: Soybean yield, ending stocks lower-than-expected

USDA cut the soybean yield by 1.4 bu. per acre to 51.7 bu. per acre, while ending stocks were pegged at 470 million bu. Both were well below average pre-report estimates. Meanwhile, both corn yield and ending stocks were below average estimates.

USDA
USDA Crop Production and Supply and Demand Reports
(USDA )


U.S. Corn, Soybean and Cotton Production

Corn

Production (bil. bu.)

Yield(bu. per acre)

USDA

15.143

183.1

Average est.

15.189

183.7

USDA October

15.203

183.8

Soybeans

Production (bil. bu.)

Yield(bu. per acre)

USDA

4.46151.7

Average est.

4.557

52.8

USDA October

4.582

53.1

Cotton

Production (mil. bales)

Yield(lbs. per acre)

USDA

14.19789

Average est.

14.08

NA

USDA October

14.201

789


U.S. Carryover

Corn – billion bushels

2023-24

2024-25

USDA

1.760

1.938

Average est.

NA

1.946

USDA October

1.760

1.999

Soybeans – million bushels

2023-24

2024-25

USDA

342

470

Average est.

NA

532

USDA October

342

550

Wheat – million bushels

2023-24

2024-25

USDA

702

815

Average est.

NA

813

USDA October

702

812

Cotton – million bales

2023-24

2024-25

USDA

3.15

4.30

Average est.

NA

4.02

USDA October

3.15

4.10


Global Carryover

Corn – MMT

2023-24

2024-25

USDA

314.22

304.14

Average est.

NA

305.70

USDA October

312.65

306.52

Soybeans – MMT

2023-24

2024-25

USDA

112.42

131.74

Average est.

NA

134.06

USDA October

112.37

134.65

Wheat – MMT

2023-24

2024-25

USDA

266.25

257.57

Average est.

NA

256.79

USDA October

266.18

257.72

Cotton – million bales

2023-24

2024-25

USDA

74.59

75.75

Average est.

NA

76.23

USDA October

75.20

76.33