Trade Expects Smaller USDA Corn and Soybean Crop Estimates

Posted on 10/08/2019 11:41 AM

USDA will release its Supply & Demand and Crop Production Reports at 11:00 a.m. CT on Thursday. We’ll have coverage of the data on our website, via e-mail and in our weekly newsletter.

 

Expectations for 2019
U.S. Production

                Corn     

 

Production
(bil. bu.)

Yield
(bu. per acre)

Harvested area (million acres)

Average est.

13.684

167.5

81.649

Range

13.446-13.833

166.0-168.7

80.800-82.020

USDA September

13.799

168.2

82.017

 

Soybeans

 

Production
(bil. bu.)

Yield
(bu. per acre)

Harvested area (million acres)

Average est.

3.583

47.3

75.705

Range

3.525-3.660

46.8-48.2

74.800-75.900

USDA September

3.633

47.9

75.866

 

Cotton

 

Production
(mil. bales)

Yield
(lbs. per acre)

Harvested area (million acres)

Average est.*

21.69

NA

NA

Range*

21.30-22.00

NA

NA

USDA September

21.86

NA

NA

 

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

 

Expectations for
U.S. Carryover

Corn – billion bushels

 

2019-20

Average est.

1.784

Range

1.612-1.963

USDA September

2.190

 

Soybeans – million bushels

Marketing year

2019-20

Average est.

521

Range

433-582

USDA September

640

 

Wheat – billion bushels

Marketing year

2019-20

Average est.

1.015

Range

0.980-1.047

USDA September

1.014

 

Cotton – million bales

Marketing year

2019-20

Average est.*

7.04

Range

6.65-7.40

USDA September

7.20

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

 

Expectations for
Global Carryover

Corn – MMT

 

2019-20

Average est.

298.27

Range

291.00-304.50

USDA September

306.27

 

Soybeans – MMT

 

2019-20

Average est.

96.46

Range

95.00-99.00

USDA September

99.19

 

Wheat – MMT

 

2018-19

Average est.

285.17

Range

280.50-288.73

USDA September

286.51

 

Cotton – million bales

 

2018-19

Average est. *

83.77

Range*

83.20-84.20

USDA September

83.75

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

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