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USDA Leaves Corn and Soybean Production, Supply and Demand Unchanged | KTIC Radio

USDA Leaves Corn and Soybean Production, Supply and Demand Unchanged

USDA Leaves Corn and Soybean Production, Supply and Demand Unchanged

OMAHA (DTN) — USDA still projects corn production at 13.66 billion bushels (bb) and soybean production at 3.55 bb. The agency also left yields untouched, with the average corn yield pegged at 167 bushels per acre (bpa) and soybeans at 46.9 bpa.

Those estimates were in line with market expectations for USDA’s December World Agricultural Supply and Demand Estimates (WASDE) report. With millions of bushels of grain still unharvested and no new numbers from NASS this month, revised crop estimates for the 2019 crop season will likely wait until the January 2020 WASDE, DTN analysts noted.

USDA also did not make any changes to domestic supply and demand, which left corn and soybean ending stocks the same.

You can also access the full reports here:

— Crop Production: https://www.nass.usda.gov/…

— World Agricultural Supply and Demand Estimates (WASDE): http://www.usda.gov/…

U.S. ENDING STOCKS (Million Bushels) 2019-20
Dec Average High Low Nov
Corn 1,910 1,859 1,960 1,479 1,911
Soybeans 475 472 522 345 475
Wheat 974 1,000 1,050 913 1,014
WORLD ENDING STOCKS (million metric tons) 2019-20
Dec Avg. High Low Nov
Corn 300.6 295.6 298.2 292.0 296.0
Soybeans 96.4 96.2 101.9 94.0 95.4
Wheat 289.5 286.3 288.5 283.9 288.3
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