USDA will update its 2021-22 U.S. demand forecasts in the Feb. 9 Supply & Demand Report. There won’t be any U.S. crop updates this month. A bigger focus will be updates to USDA’s South American crop forecasts, though they will remain above most if not all private crop forecasters. The following report expectations are based on a survey of analysts by Reuters (Bloomberg for cotton).
Expectations for | |
Corn – billion bushels | |
2021-22 | |
Average est. | 1.512 |
Range | 1.420-1.560 |
USDA January | 1.540 |
Soybeans – million bushels | |
2021-22 | |
Average est. | 310 |
Range | 182-350 |
USDA January | 350 |
| |
Wheat – million bushels | |
2021-22 | |
Average est. | 629 |
Range | 596-655 |
USDA January | 628 |
| |
Cotton – million bales | |
2021-22 | |
Average est. | 3.29 |
Range | 3.00-3.70 |
USDA January | 3.20 |
Expectations for | |
Corn – MMT | |
| 2021-22 |
Average est. | 300.32 |
Range | 294.30-303.00 |
USDA January | 303.07 |
Soybeans – MMT | |
| 2021-22 |
Average est. | 91.51 |
Range | 86.00-94.00 |
USDA January | 95.20 |
Wheat – MMT | |
| 2021-22 |
Average est. | 279.89 |
Range | 275.90-282.40 |
USDA January | 279.95 |
Cotton – million bales | |
| 2021-22 |
Average est. | 84.95 |
Range | 84.00-85.75 |
USDA January | 85.01 |
Brazilian Production | |
Soybeans – MMT | |
Average est. | 133.65 |
Range | 126.50-137.50 |
USDA January | 139.00 |
| |
Corn – MMT | |
Average est. | 113.63 |
Range | 111.00-116.10 |
USDA January | 115.0 |
Argentine | |
Soybeans – MMT | |
Average est. | 44.51 |
Range | 43.00-46.00 |
USDA January | 46.50 |
| |
Corn – MMT | |
Average est. | 52.16 |
Range | 51.00-53.50 |
USDA January | 54.00 |