Report snapshot: Corn, soybean production and carryover lower than expected

U.S. Corn, Soybean and Cotton Production

                Corn     

Production
(bil. bu.)

Yield
(bu. per acre)

USDA

15.064

173.0

Average est.

15.101

173.5

USDA Sept.

15.134

173.8

Soybeans

Production
(bil. bu.)

Yield
(bu. per acre)

USDA

4.104

49.6

Average est.

4.134

49.9

USDA Sept.

4.146

50.1

Cotton

Production
(mil. bales)

Yield
(lbs. per acre)

USDA

12.82

767

Average est.

12.91

NA

USDA Sept.

13.132

786

U.S. Carryover

Corn – billion bushels

2022-23

2023-24

USDA

1.361*

2.111

Average est.
*Set by Sept. 1 stocks

NA

2.138

USDA Sept.

1.452

2.221

Soybeans – million bushels

2022-23

2023-24

USDA

268*

220

Average est.
*Set by Sept. 1 stocks

NA

233

USDA Sept.

250

220

Wheat – million bushels

2022-23

2023-24

USDA

NA

670

Average est.

NA

647

USDA Sept.

580

615

Cotton – million bales

2022-23

2023-24

USDA

4.25

2.80

Average est.

NA

2.96

USDA Sept.

4.25

3.00

Global Carryover

Corn – MMT

2022-23

2023-24

USDA

298.13

312.40

Average est.

NA

313.05

USDA Sept.

299.47

313.99

Soybeans – MMT

2022-23

2023-24

USDA

101.89

115.62

Average est.

NA

119.71

USDA Sept.

102.99

119.25

Wheat – MMT

2022-23

2023-24

USDA

267.55

258.13

Average est.

NA

258.38

USDA Sept.

267.13

258.61

Cotton – million bales

2022-23

2023-24

USDA

82.84

79.92

Average est.

NA

89.70

USDA Sept.

93.18

89.96