The USDA’s January release of the World Agricultural Supply and Demand Estimates (WASDE) report on Friday January 10 provided updated projections for corn, soybeans and wheat.
US corn forecasts for 2024/25 indicate lower production, reduced feed and residual use and lower exports and ending stocks.
US wheat estimates for 2024/25 show slightly increased supplies and domestic use, steady exports and higher ending stocks.
US soybean projections for 2024/25 reflect lower production, slightly increased imports and unchanged export and crush estimates.
Corn
Corn production is estimated at 14.9 billion bushels, down by 276 million bu following a 3.8 bu per acre reduction in yield to 179.3 bu per acre, partially offset by a 0.2 million acre increase in harvested area.
Overall total corn use was reduced by 75 million bu to 15.1 billion bu.
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