Report snapshot: winter wheat production estimates slide lower

Winter wheat production was reported the average trade guess, due to a notable drop in estimated SRW wheat production from May. Meanwhile, U.S. carryover for corn and soybeans landed above pre-report estimates.

usda
usda
(USDA)

U.S. Winter Wheat Production

All wheat – billion bu.

USDA

1.650

Average est.

1.672

USDA May

1.659

USDA 2022

1.650

Winter wheat – billion bu.

USDA

1.140

Average est.

1.143

USDA May

1.130

USDA 2022

1.104

HRW wheat – million bu.

USDA

531

Average est.

520

USDA May

514

USDA 2022

531

SRW wheat – million bu.

USDA

337

Average est.

414

USDA May

406

USDA 2022

337

White winter wheat – million bu.

USDA

272

Average est.

210

USDA May

210

USDA 2022

236

U.S. Carryover

Corn – billion bushels

2022-23

2023-24

USDA

1.452

2.257

Average est.

1.449

2.254

USDA May

1.417

2.222

Soybeans – million bushels

2022-23

2023-24

USDA

230

350

Average est.

223

345

USDA May

215

335

Wheat – million bushels

2022-23

2023-24

USDA

598

562

Average est.

606

569

USDA May

598

556

Cotton – million bales

2022-23

2023-24

USDA

3.20

3.50

Average est.

NA

3.61

USDA May

3.50

3.30

Global Carryover

Corn – MMT

2022-23

2023-24

USDA

297.55

313.98

Average est.

297.66

313.12

USDA May

297.41

312.90

Soybeans – MMT

2022-23

2023-24

USDA

101.32

123.34

Average est.

100.55

121.99

USDA May

101.04

122.50

Wheat – MMT

2022-23

2023-24

USDA

266.66

264.34

Average est.

266.58

264.65

USDA May

266.28

264.34

Cotton – million bales

2022-23

2023-24

USDA

92.89

92.79

Average est.

NA

93.09

USDA May

92.63

92.28