September 2024 WASDE
The USDA’s September release of the World Agricultural Supply and Demand Estimates (WASDE) update on Thursday September 12 has provided fresh estimates for corn and soybeans, while the US wheat outlook for 2024/25 remained flat from the August report.
US corn forecasts for 2024/25 indicated reduced supplies and a drop in ending stocks, despite higher production levels.
US soybean projections for 2024/25 revealed lower beginning stocks, production and ending stocks.
Corn
US corn production was forecast at 15.19 billion bushels, up by 39 million bu from the August WASDE, with the yield set at a record 183.6 bu per acre, up by 0.5 bu from the previous month’s estimate.
The forecast for US beginning stocks was trimmed by 55 million bu due to increases in exports and corn used for ethanol in the 2023/24 crop year.
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