Report snapshot: U.S. corn carryover falls short of expectations

USDA’s Nov. WASDE and production updates yielded increases in corn and bean production; however, corn carryout fell short of expectations while soybean carryout was pegged 8 million bu. higher than the average estimate.

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November 09, 2022 11:23 AM

2022 U.S. Corn, Soybean and Cotton Production
Corn
	Production (bil. bu.)	Yield (bu. per acre)	Harvested acres (mil.)
USDA	13.930	172.3	80.8
Average est.	13.887	171.9	NA
USDA October	13.895	171.9	80.844

Soybeans
	Production (bil. bu.)	Yield (bu. per acre)	Harvested acres (mil.)
USDA	4.346	50.2	86.6
Average est.	4.315	49.8	NA
USDA September	4.313	49.8	86.631

Cotton
	Production (mil. bales)	Yield (lbs. per acre)	Harvested acres (mil.)
USDA	14.03	855	7.88
Average est.	13.62	NA	NA
USDA September	13.812	842	7.876

Expectations for U.S. Carryover
Corn – billion bushels
	2022-23
USDA	1.182
Average est.	1.207
USDA October	1.172
USDA 2021-22	1.377

Soybeans – million bushels
	2022-23
USDA	220
Average est.	212
USDA October	200
USDA 2021-22	274

Wheat – million bushels
	2022-23
USDA	571
Average est.	578
USDA October	576
USDA 2021-22	600

Cotton – million bales
	2022-23
USDA	3.00
Average est.	2.73
USDA October	2.8
USDA 2021-22	3.75

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