USDA Reports Flash
USDA Releases September Crop Production, WASDE Reports
This article was originally posted at 11:01 a.m. CDT on Tuesday, Sept. 12, and updated again at 11:04 a.m and 11:08 a.m. It was last updated with additional information at 11:08 a.m. CDT on Tuesday, Sept. 12.
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OMAHA (DTN) -- USDA on Tuesday released its September Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports.
USDA estimated the national average corn yield at 173.8 bushels per acre (bpa), just half a bushel above the pre-report average estimate. While the yield estimate fell from last month, acreage increased, resulting in a 15.13-billion-bushel (bb) production estimate.
On soybeans, farmers are expected to harvest an average of 50.1 bpa, a 0.8 bpa decline from last month that's right in line with traders' expectations. Production was forecast at 4.15 bb.
Stay tuned throughout the morning and refresh this page often as we will be sending a series of updates with the important highlights from today's reports, including commentary from our analysts.
You can also access the full reports here:
-- Crop Production: https://www.nass.usda.gov/…
-- World Agricultural Supply and Demand Estimates (WASDE): http://www.usda.gov/…
WHEAT
USDA expects farmers to harvest 1.734 bb of wheat in 2023-24, which is unchanged from last month's estimate. USDA will update its wheat production forecasts in its Small Grains Summary, which will be released Sept. 29.
USDA left unchanged U.S. ending wheat stocks 615 mb for 2023-24, as well as the farm gate price at $7.50 per bushel.
Globally, USDA estimates world ending wheat stocks for 2023-24 at 258.61 mmt, a 7 mmt decrease from last month.
As Russia's war on Ukraine continues, Ukrainian access to the Black Sea has effectively been shut down.
USDA estimates Ukraine's exports at 11.0 mmt, a 500,000 mmt increase from last month. USDA estimates Russian exports at 49.0 mmt, a 1 mmt increase from last month.
USDA pegs Ukrainian wheat production at 22.5 mmt, a 1.5 mmt increase from last month, while Russian production is left unchanged at 85.0 mmt.
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Editor's Note: Join DTN Lead Analyst Todd Hultman for DTN's webinar at 12:30 p.m. CDT Tuesday as he goes through the numbers and discusses what the latest estimates mean. Questions are welcome and registrants will receive a link later for viewing at their convenience. Register here for Tuesday's September WASDE report webinar: https://www.dtn.com/…
| U.S. PRODUCTION (Million Bushels) 2023-24 | ||||||
| Sep | Avg | High | Low | Aug | 2022-23 | |
| Corn | 15,134 | 14,994 | 15,125 | 14,762 | 15,111 | 13,730 |
| Soybeans | 4,146 | 4,139 | 4,218 | 4,056 | 4,205 | 4,276 |
| U.S. AVERAGE YIELD (Bushels Per Acre) 2023-24 (WASDE) | ||||||
| Sep | Avg | High | Low | Aug | 2022-23 | |
| Corn | 173.8 | 173.3 | 175.0 | 171.0 | 175.1 | 173.3 |
| Soybeans | 50.1 | 50.0 | 51.0 | 49.0 | 50.9 | 49.5 |
| U.S. ENDING STOCKS (Million Bushels) 2022-23 | ||||||
| Sep | Avg | High | Low | Aug | ||
| Corn | 1,451 | 1,459 | 1,532 | 1,347 | 1,457 | |
| Soybeans | 250 | 256 | 270 | 235 | 260 | |
| U.S. ENDING STOCKS (Million Bushels) 2023-24 | ||||||
| Sep | Avg | High | Low | Aug | ||
| Corn | 2,220 | 2,127 | 2,399 | 1,830 | 2,202 | |
| Soybeans | 220 | 213 | 255 | 170 | 245 | |
| Wheat | 615 | 614 | 630 | 586 | 615 | |
| WORLD ENDING STOCKS (million metric tons) 2022-23 | ||||||
| Sep | Avg | High | Low | Aug | ||
| Corn | 299.5 | 294.9 | 298.5 | 267.9 | 297.9 | |
| Soybeans | 103.0 | 103.0 | 103.5 | 102.0 | 103.1 | |
| Wheat | 267.1 | 268.3 | 269.5 | 267.9 | 268.3 | |
| WORLD ENDING STOCKS (million metric tons) 2023-24 | ||||||
| Sep | Avg | High | Low | Aug | ||
| Corn | 314.0 | 310.3 | 313.8 | 305.0 | 311.1 | |
| Soybeans | 119.3 | 118.5 | 120.8 | 116.4 | 119.4 | |
| Wheat | 258.6 | 265.0 | 267.9 | 261.0 | 265.6 | |
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