USDA projected lower corn supplies at the end of the 2022-23 marketing year, while soybean stocks are expected to increase. The following is a summary of key numbers in USDA’s Supply and Demand and Crop Production reports for May:
U.S. Carryover | ||
Corn – billion bushels | ||
2021-22 | 2022-23 | |
USDA | 1.440 | 1.360 |
Average est. | 1.412 | 1.352 |
USDA April | 1.440 | NA |
Soybeans – million bushels | ||
2021-22 | 2022-23 | |
USDA | 235 | 310 |
Average est. | 225 | 317 |
USDA April | 260 | NA |
Wheat – million bushels | ||
2021-22 | 2022-23 | |
USDA | 655 | 619 |
Average est. | 686 | 659 |
USDA April | 653 | NA |
Cotton – million bales | ||
2021-22 | 2022-23 | |
USDA | 3.40 | 2.90 |
Average est. | NA | 3.57 |
USDA April | 3.50 | NA |
Global Carryover | ||
Corn – MMT | ||
| 2021-22 | 2022-23 |
USDA | 309.39 | 305.13 |
Average est. | 303.76 | 296.91 |
USDA April | 305.46 | NA |
Soybeans – MMT | ||
| 2021-22 | 2022-23 |
USDA | 85.24 | 99.60 |
Average est. | 88.98 | 97.23 |
USDA April | 89.58 | NA |
Wheat – MMT | ||
| 2021-22 | 2022-23 |
USDA | 279.72 | 267.02 |
Average est. | 278.30 | 272.07 |
USDA April | 278.42 | NA |
Cotton – million bales | ||
| 2021-22 | 2022-23 |
USDA | 83.65 | 82.82 |
Average est. | NA | 83.74 |
USDA April | 83.38 | NA |
Global Production Highlights | ||
Corn – MMT | ||
| 2021-22 | 2022-23 |
Argentina | 53.00 (53.00) | 55.00 |
Brazil | 116.00 (116.00) | 126.00 |
South Africa | 16.30 (16.30) | 17.30 |
Ukraine | 42.13 (41.90) | 19.50 |
China | 272.55 (272.55) | 271.00 |
Soybeans – MMT | ||
| 2021-22 | 2022-23 |
Argentina | 42.00(43.50) | 51.00 |
Brazil | 125.00 (125.00) | 149.00 |
Paraguay | 4.20 (4.20) | 10.00 |
Wheat – MMT | ||
| 2021-22 | 2022-23 |
Argentina | 22.15 (21.00) | 20.00 |
Australia | 36.30 (36.30) | 30.00 |
Canada | 21.65 (21.65) | 33.00 |
EU | 138.42 (138.42) | 136.50 |
Russia | 75.16 (75.16) | 80.00 |
Ukraine | 33.01 (33.00) | 21.50 |
U.S. Winter Wheat Production | |
Winter wheat – billion bu. | |
USDA | 1.174 |
Average est. | 1.239 |
USDA 2021 | 1.277 |
| |
HRW wheat – million bu. | |
USDA | 590 |
Average est. | 685 |
USDA 2021 | 749 |
| |
SRW wheat – million bu. | |
USDA | 353.5 |
Average est. | 359 |
USDA 2021 | 361 |
| |
White winter wheat – million bu. | |
USDA | 230 |
Average est. | 199 |
USDA 2021 | 167 |