Report Snapshot: USDA pegs huge corn, soybean crop

USDA pegged total U.S. corn and soybean production at 15.342 billion bu. and 4.165 billion bu., respectively amid a 2.4 bu. and 0.7 bu. bump in the national corn and soybean average yield estimate from November.

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January 12, 2024 11:52 AM

2023 U.S. Corn, Soybean and Cotton Production
Corn
	Production (bil. bu.)	Yield (bu. per acre)	Harvested acres (mil.)
USDA	15.342	177.3	86.500
Average est.	15.226	174.9	87.036
USDA November	15.234	174.9	87.096

Soybeans
	Production (bil. bu.)	Yield (bu. per acre)	Harvested acres (mil.)
USDA	4.165	50.6	82.400
Average est.	4.127	49.9	82.757
USDA November	4.129	49.9	82.791

Cotton
	Production (mil. bales)	Yield (lbs. per acre)	Harvested acres (mil.)
USDA	12.430	845	7.06
Average est.	12.770	NA	NA
USDA December	12.776	765	8.021

Quarterly Grain Stocks Report
Corn – billion bu.
USDA Dec. 1, 2023	12.169
Average est.	12.050
USDA Sept. 1, 2023	1.361
USDA Dec. 1, 2022	10.821

Soybeans – billion bu.
USDA Dec. 1, 2023	3.000
Average est.	2.975
USDA Sept. 1, 2023	0.268
USDA Dec. 1, 2022	3.021

Wheat – billion bu.
USDA Dec. 1, 2023	1.410
Average est.	1.387
USDA Sept. 1, 2023	1.780
USDA Dec. 1, 2022	1.312

Winter Wheat Seedings
All winter wheat – million acres
USDA	34.400
Average est.	35.786
USDA final 2023	36.699

HRW wheat – million acres
USDA	24.00
Average est.	25.113
USDA final 2023	25.695

SRW wheat – million acres
USDA	6.860
Average est.	7.077
USDA final 2023	7.360

White winter wheat – million acres
USDA	3.540
Average est.	3.595
USDA final 2023	3.644

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