Report Snapshot: U.S. and global corn, soybean carryover top average pre-report estimates

USDA showed slightly larger-than-expected U.S. carryover for corn, soybeans and wheat, while global corn and soybean carryover also topped average pre-report estimates. Global wheat carryover was lower.

USDA
USDA
(Image courtesy USDA)

U.S. Carryover

Corn – billion bushels

2022-23

2023-24

USDA

NA

2.122

Average est.

NA

2.102

USDA March

1.360

2.172

Soybeans – million bushels

2022-23

2023-24

USDA

NA

340

Average est.

NA

317

USDA March

264

315

Wheat – million bushels

2022-23

2023-24

USDA

NA

698

Average est.

NA

690

USDA March

570

673

Cotton – million bales

2022-23

2023-24

USDA

4.25

2.50

Average est.

NA

2.56

USDA March

4.25

2.50

Global Carryover

Corn – MMT

2022-23

2023-24

USDA

302.19

318.28

Average est.

NA

316.72

USDA March

301.62

319.63

Soybeans – MMT

2022-23

2023-24

USDA

101.31

114.22

Average est.

NA

113.71

USDA March

102.15

114.27

Wheat – MMT

2022-23

2023-24

USDA

271.0

258.27

Average est.

NA

259.14

USDA March

271.10

258.83

Cotton – million bales

2022-23

2023-24

USDA

82.61

83.08

Average est.

NA

83.38

USDA March

82.97

83.34