Report Snapshot: USDA Hikes Corn & Soybean Crop Estimates

Posted on 09/12/2018 11:05 AM

2018 U.S. Production

Corn

 

Production
(bil. bu.)

Yield
(bu. per acre)

USDA

14.827

181.3

Average est.

14.529

177.8

USDA August

14.586

178.4

 

Soybeans

 

Production
(bil. bu.)

Yield
(bu. per acre)

USDA

4.693

52.8

Average est.

4.649

52.2

USDA August

4.585

51.6

 

Cotton

 

Production
(mil. bales)

Yield
(lbs. per acre)

USDA

19.68

895

Average est.*

19.12

NA

USDA August

19.24

911

 

*Based on the results of a survey by Bloomberg.

 

U.S. Carryover

Corn – billion bushels

 

2017-18

2018-19

USDA

2.002

1.774

Average est.

2.028

1.639

USDA August

2.027

1.684

 

Soybeans – million bushels

 

2017-18

2018-19

USDA

395

845

Average est.

426

830

USDA August

430

785

 

Wheat – billion bushels

 

2017-18

2018-19

USDA

1.100

935

Average est.

NA

941

USDA August

1.100

0.935

 

Cotton – million bales

 

2017-18

2018-19

USDA

4.30

4.70

Average est.*

NA

4.58

USDA August

4.40

4.60

 

Global Carryover

Corn – MMT

 

2017-18

2018-19

USDA

194.15

157.03

Average est.

192.24

154.48

USDA August

193.33

155.49

 

Soybeans – MMT

 

2017-18

2018-19

USDA

94.74

108.26

Average est.

95.57

107.29

USDA August

95.61

105.94

 

Wheat – MMT

 

2017-18

2018-19

USDA

274.36

261.29

Average est.

272.92

257.58

USDA August

273.07

258.96

 

 

Cotton – million bales

 

2017-18

2018-19

USDA

83.79

77.46

Average est.*

NA

77.23

USDA August

84.51

77.10

 

Global Production Highlights

Corn – MMT

 

2017-18

September (August)

2018-19

September (August)

U.S.

370.96 (370.96)

376.62 (370.51)

Argentina

32.00 (33.00)

41.00 (41.00)

Brazil

82.00 (83.00)

94.50 (94.50)

South Africa

13.80 (13.80)

13.00 (13.50)

China

215.89 (215.89)

225.00 (225.00)

Soybeans – MMT

 

2017-18

September (August)

2018-19

September (August)

U.S.

119.52 (119.52)

127.73 (124.81)

Argentina

37.80 (37.00)

57.00 (57.00)

Brazil

119.50 (119.50)

120.50 (120.50)

Paraguay

10.00 (10.00)

9.80 (9.80)

China

14.20 (14.20)

15.00 (14.50)

Wheat – MMT

 

2017-18

September (August)

2018-19

September (August)

U.S.

47.37 (47.37)

51.08 (51.08)

Argentina

18.00 (18.00)

19.50 (19.50)

Australia

21.30 (21.30)

20.00 (22.00)

Canada

29.98 (30.00)

31.50 (32.50)

EU

151.68 (151.68)

137.50 (137.50)

Cotton – million bales

 

2017-18

September (August)

2018-19

September (August)

U.S.

20.92 (20.92)

19.68 (19.24)

Australia

4.70 (4.70)

3.00 (3.55)

Brazil

9.22 (9.20)

10.00 (9.50)

India

29.00 (29.00)

28.70 (28.70)

China

27.50 (27.50)

27.50 (26.50)

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