Report Snapshot: USDA Surprises with Smaller Corn & Soybean Crop Estimates

Posted on 10/11/2018 11:02 AM

2018 U.S. Production

Corn

 

Production
(bil. bu.)

Yield
(bu. per acre)

USDA

14.778

180.7

Average est.

14.872

181.8

USDA September

14.827

181.3

 

Soybeans

 

Production
(bil. bu.)

Yield
(bu. per acre)

USDA

4.690

53.1

Average est.

4.733

53.3

USDA September

4.693

52.8

 

Cotton

 

Production
(mil. bales)

Yield
(lbs. per acre)

USDA

19.763

901

Average est.*

19.520

NA

USDA September

19.682

895

 

*Based on the results of a survey by Bloomberg.

 

 

U.S. Carryover (2018-19)

Corn – billion bushels

USDA

1.813

Average est.

1.919

USDA September

1.774

 

Soybeans – million bushels

USDA

885

Average est.

898

USDA September

845

 

Wheat – million bushels

USDA

956

Average est.

950

USDA September

935

 

Cotton – million bales

USDA

5.00

Average est.*

4.65

USDA September

4.70

*Based on the results of a survey by Bloomberg News.

 

Global Carryover (2018-19)

Corn – MMT

USDA

159.35

Average est.

159.30

USDA September

157.03

 

Soybeans – MMT

USDA

110.04

Average est.

109.53

USDA September

108.26

 

Wheat – MMT

USDA

260.18

Average est.

261.41

USDA September

261.29

 

Cotton – million bales

USDA

74.45

Average est. *

77.58

USDA September

77.46

*Based on the results of a survey by Bloomberg news.

 

Global Production Highlights

Corn – MMT

 

2018-19

October (September)

U.S.

375.37 (376.62)

Argentina

41.00 (41.00)

Brazil

94.50 (94.50)

South Africa

13.00 (13.00)

China

225.00 (225.00)

Soybeans – MMT

 

2018-19

October (September)

U.S.

127.63 (127.73)

Argentina

57.00 (57.00)

Brazil

120.50 (120.50)

Paraguay

9.80 (9.80)

China

15.00 (15.00)

Wheat – MMT

 

2018-19

October (September)

U.S.

51.29 (51.08)

Argentina

19.50 (19.50)

Australia

18.50 (20.00)

Canada

31.50 (31.50)

EU

137.50 (137.50)

Cotton – million bales

 

2018-19

October (September)

U.S.

19.76 (19.68)

Australia

2.50 (3.00)

Brazil

10.00 (10.00)

India

28.70 (28.70)

China

27.50 (27.50)

Add new comment