USDA Projects Smaller Ending U.S. Corn Stocks for 2022-23, Higher Soybean Supplies
USDA projected lower corn supplies at the end of the 2022-23 marketing year, while soybean stocks are expected to increase. The following is a summary of key numbers in USDA's Supply and Demand and Crop Production reports for May:
|
U.S. Carryover |
||
|
Corn – billion bushels |
||
|
2021-22 |
2022-23 |
|
|
USDA |
1.440 |
1.360 |
|
Average est. |
1.412 |
1.352 |
|
USDA April |
1.440 |
NA |
|
Soybeans – million bushels |
||
|
2021-22 |
2022-23 |
|
|
USDA |
235 |
310 |
|
Average est. |
225 |
317 |
|
USDA April |
260 |
NA |
|
Wheat – million bushels |
||
|
2021-22 |
2022-23 |
|
|
USDA |
655 |
619 |
|
Average est. |
686 |
659 |
|
USDA April |
653 |
NA |
|
Cotton – million bales |
||
|
2021-22 |
2022-23 |
|
|
USDA |
3.40 |
2.90 |
|
Average est. |
NA |
3.57 |
|
USDA April |
3.50 |
NA |
|
Global Carryover |
||
|
Corn – MMT |
||
|
|
2021-22 |
2022-23 |
|
USDA |
309.39 |
305.13 |
|
Average est. |
303.76 |
296.91 |
|
USDA April |
305.46 |
NA |
|
Soybeans – MMT |
||
|
|
2021-22 |
2022-23 |
|
USDA |
85.24 |
99.60 |
|
Average est. |
88.98 |
97.23 |
|
USDA April |
89.58 |
NA |
|
Wheat – MMT |
||
|
|
2021-22 |
2022-23 |
|
USDA |
279.72 |
267.02 |
|
Average est. |
278.30 |
272.07 |
|
USDA April |
278.42 |
NA |
|
Cotton – million bales |
||
|
|
2021-22 |
2022-23 |
|
USDA |
83.65 |
82.82 |
|
Average est. |
NA |
83.74 |
|
USDA April |
83.38 |
NA |
|
Global Production Highlights |
||
|
Corn – MMT |
||
|
|
2021-22 |
2022-23 |
|
Argentina |
53.00 (53.00) |
55.00 |
|
Brazil |
116.00 (116.00) |
126.00 |
|
South Africa |
16.30 (16.30) |
17.30 |
|
Ukraine |
42.13 (41.90) |
19.50 |
|
China |
272.55 (272.55) |
271.00 |
|
Soybeans – MMT |
||
|
|
2021-22 |
2022-23 |
|
Argentina |
42.00(43.50) |
51.00 |
|
Brazil |
125.00 (125.00) |
149.00 |
|
Paraguay |
4.20 (4.20) |
10.00 |
|
Wheat – MMT |
||
|
|
2021-22 |
2022-23 |
|
Argentina |
22.15 (21.00) |
20.00 |
|
Australia |
36.30 (36.30) |
30.00 |
|
Canada |
21.65 (21.65) |
33.00 |
|
EU |
138.42 (138.42) |
136.50 |
|
Russia |
75.16 (75.16) |
80.00 |
|
Ukraine |
33.01 (33.00) |
21.50 |
|
U.S. Winter Wheat Production |
|
|
Winter wheat – billion bu. |
|
|
USDA |
1.174 |
|
Average est. |
1.239 |
|
USDA 2021 |
1.277 |
|
|
|
|
HRW wheat – million bu. |
|
|
USDA |
590 |
|
Average est. |
685 |
|
USDA 2021 |
749 |
|
|
|
|
SRW wheat – million bu. |
|
|
USDA |
353.5 |
|
Average est. |
359 |
|
USDA 2021 |
361 |
|
|
|
|
White winter wheat – million bu. |
|
|
USDA |
230 |
|
Average est. |
199 |
|
USDA 2021 |
167 |
