Report Snapshot: Corn Crop Tops Expectations, Soybean Crop Smaller Than Expected

Posted on 10/10/2019 11:07 AM

2019 U.S. Production

                Corn     

 

Production
(bil. bu.)

Yield
(bu. per acre)

Harvested area (million acres)

USDA

13.779

168.4

81.815

Average est.

13.684

167.5

81.649

USDA September

13.799

168.2

82.017

 

Soybeans

 

Production
(bil. bu.)

Yield
(bu. per acre)

Harvested area (million acres)

USDA

3.550

46.9

75.626

Average est.

3.583

47.3

75.705

USDA September

3.633

47.9

75.866

 

Cotton

 

Production
(mil. bales)

Yield
(lbs. per acre)

Harvested area (million acres)

USDA

21.705

833

12.509

Average est.*

21.690

NA

NA

USDA September

21.862

839

12.509

 

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

 

U.S. Carryover

Corn – billion bushels

 

2018-19

2019-20

USDA

2.114

1.929

Average est.

NA

1.784

USDA September

2.445

2.190

 

 

Soybeans – million bushels

Marketing year

2018-19

2019-20

USDA

913

460

Average est.

NA

521

USDA September

1.005

640

 

 

Wheat – billion bushels

Marketing year

2018-19

2019-20

USDA

1.080

1.043

Average est.

NA

1.015

USDA September

1.072

1.014

 

 

Cotton – million bales

Marketing year

2018-19

2019-20

USDA

4.85

7.00

Average est.*

NA

7.04

USDA September

4.85

7.20

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

 

Global Carryover

Corn – MMT

 

2018-19

2019-20

USDA

324.03

302.55

Without China

112.19

106.73

Average est.

NA

298.27

USDA September

329.55

306.27

 

Soybeans – MMT

 

2018-19

2019-20

USDA

109.87

95.21

Without China

90.13

76.19

Average est.

NA

96.46

USDA September

112.41

99.19

 

Wheat – MMT

 

2018-19

2019-20

USDA

277.68

287.80

Without China

137.92

142.14

Average est.

NA

285.17

USDA September

277.24

286.51

 

Cotton – million bales

 

2018-19

2019-20

USDA

80.73

83.69

Without China

45.06

50.45

Average est. *

NA

83.77

USDA September

80.80

83.75

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

 

Global Production Highlights

Corn – MMT

 

2018-19

October (September)

2019-20

October (September)

U.S.

366.29 (366.29)

 350.01 (353.52)

Argentina

51.00 (51.00)

50.00 (50.00)

Brazil

 101.00 (101.00)

 101.00 (101.00)

South Africa

11.50 (11.50)

 14.00 (14.00)

Ukraine

35.81 (35.81)

36.00 (36.00)

China

257.33 (257.33)

 254.00 (254.00)

Soybeans – MMT

 

2018-19

October (September)

2019-20

October (September)

U.S.

 120.52 (123.66)

96.62 (98.87)

Argentina

         55.30 (55.30)

53.00 (53.00)

Brazil

117.00 (117.00)

 123.00 (123.00)

Paraguay

 8.85 (9.00)

10.20 (10.20)

China

15.90 (15.90)

17.10 (17.10)

Wheat – MMT

 

2018-19

October (September)

2019-20

October (September)

U.S.

51.31 (51.29)

53.39 (53.89)

Argentina

19.50 (19.50)

20.50 (20.50)

Australia

        17.30 (17.30)

18.00 (19.00)

Canada

32.20 (32.20)

 33.00 (33.30)

EU

136.86 (136.86)

152.00 (151.00)

Russia

71.69 (71.69)

 72.50 (72.50)

Ukraine

25.06 (25.06)

28.70 (28.70)

Cotton – million bales

 

2018-19

October (September)

2019-20

October (September)

U.S.

18.37 (18.37)

21.71 (21.86)

Australia

2.20 (2.40)

 1.20 (1.40)

Brazil

12.75 (12.80)

11.60 (12.00)

India

26.50 (26.50)

30.50 (29.50)

China

27.75 (27.75)

 27.75 (27.75)

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