The USDA’s December release of the World Agricultural Supply and Demand Estimates (WASDE) report on Tuesday December 10 has provided fresh estimates for corn and wheat.
US corn forecasts for 2024/25 suggest greater corn used for ethanol, larger exports and lower ending stocks.
Wheat estimates for 2024/25 in the US indicated slightly larger supplies, unchanged domestic use, increased exports and lower ending stocks.
US soybean supply and use projections for 2024/25 were unchanged.
Corn
Corn used to produce ethanol was raised by 50 million bushels to 5.5 billion bu, based on the most recent data from the Grain Crushings and Co-Products Production report and weekly ethanol production data, as reported by the EIA for the month of November.
Exports were raised by 150 million bu to 2.5 billion bu, reflecting the pace of sales and shipments to date.
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