USDA’s Corn and Soybean Crop Pegs Top Expectations

Posted on 11/08/2019 10:53 AM

 

2019 U.S. Production

                Corn     

 

Production
(bil. bu.)

Yield
(bu. per acre)

Harvested area (million acres)

USDA

13.661

167.0

81.815

Average est.

13.643

167.5

81.455

USDA October

13.779

168.4

81.815

 

Soybeans

 

Production
(bil. bu.)

Yield
(bu. per acre)

Harvested area (million acres)

USDA

3.550

46.9

75.626

Average est.

3.510

46.6

75.422

USDA October

3.550

46.9

75.626

 

Cotton

 

Production
(mil. bales)

Yield
(lbs. per acre)

Harvested area (million acres)

USDA

20.817

799

12.509

Average est.*

21.630

NA

NA

USDA October

21.705

833

12.509

 

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

 

U.S. Carryover

Corn – billion bushels

 

2019-20

USDA

1.910

Average est.

1.817

USDA October

1.929

 

Soybeans – million bushels

Marketing year

2019-20

USDA

475

Average est.

428

USDA October

460

 

Wheat – billion bushels

Marketing year

2019-20

USDA

1.014

Average est.

1.035

USDA October

1.043

 

Cotton – million bales

Marketing year

2019-20

USDA

6.10

Average est.*

6.95

USDA October

7.00

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

 

Global Carryover

Corn – MMT

 

2018-19

2019-20

USDA

320.06

295.96

Without China

108.74

100.66

Average est.

NA

300.31

USDA October

324.03

302.55

 

Soybeans – MMT

 

2018-19

2019-20

USDA

109.66

95.42

Without China

90.28

76.26

Average est.

NA

93.85

USDA October

109.87

95.21

 

Wheat – MMT

 

2018-19

2019-20

USDA

277.90

288.28

Without China

138.13

142.61

Average est.

NA

287.030

USDA October

277.68

287.800

 

Cotton – million bales

 

2018-19

2019-20

USDA

80.55

80.80

Without China

44.88

48.06

Average est. *

NA

83.67

USDA October

80.73

83.69

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

 

Global Production Highlights

Corn – MMT

 

2018-19

November (October)

2018-19

November (October)

U.S.

366.29 (366.29)

 347.01 (350.01)

Argentina

51.00 (51.00)

50.00 (50.00)

Brazil

 101.00 (101.00)

 101.00 (101.00)

South Africa

11.75 (11.50)

 14.00 (14.00)

Ukraine

35.81 (35.81)

35.50 (36.00)

China

257.33 (257.33)

 254.00 (254.00)

Soybeans – MMT

 

2018-19

November (October)

2019-20

November (October)

U.S.

 120.52 (120.52)

96.62 (96.62)

Argentina

         55.30 (55.30)

53.00 (53.00)

Brazil

117.00 (117.00)

 123.00 (123.00)

Paraguay

 8.85 (8.85)

10.20 (10.20)

China

15.90 (15.90)

17.10 (17.10)

Wheat – MMT

 

2018-19

November (October)

2019-20

November (October)

U.S.

51.31 (51.31)

52.26 (53.39)

Argentina

19.50 (19.50)

20.00 (20.50)

Australia

        17.30 (17.30)

17.20 (18.00)

Canada

32.20 (32.20)

 33.00 (33.00)

EU

136.86 (136.86)

153.00 (152.00)

Russia

71.69 (71.69)

 74.00 (72.50)

Ukraine

25.06 (25.06)

29.00 (28.70)

Cotton – million bales

 

2018-19

November (October)

2019-20

November (October)

U.S.

18.37 (18.37)

20.82 (21.71)

Australia

2.20 (2.20)

 1.20 (1.20)

Brazil

12.52 (12.75)

11.60 (11.60)

India

26.50 (26.50)

30.00 (30.50)

China

27.75 (27.75)

 27.25 (27.75)

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