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WASDE Report

WASDE Report

The November 2019 WASDE Report was released November 8, 2019 

Corn
For 2019/20 yields, the report estimated corn yield would be 167.0 bushels per acre (down 1.4 bushels per acre from the 168.4 recorded in the October WASDE).  This compares to trade expectations of 167.3 bushels per acre.

For 2019/20 production, the report estimates that total corn production will be 13.661 billion bushels (down 0.118 billion bushels from the 13.799 billion bushels recorded in the October WASDE).  This compares to trade expectations of 13.602 billion bushels. 

For corn new crop (2019/20) carryout, the USDA recorded 1.91 billion bushels of corn stocks in the U.S (down 0.019 billion bushels from the 1.929 billion bushels recorded in the October WASDE).   That compared to trade expectations of 1.799 billion bushels. 

Soybeans
For 2019/20 yields, the report estimated soybean yield would be 46.9 bushels per acre (this is unchanged from the October WASDE).  This compares to trade expectations of 46.6 bushels per acre.

For 2019/20 production, the report estimates that total soybean production will be 3.55 billion bushels (this is unchanged from the 3.55 billion bushels recorded in the October WASDE).  This compares to trade expectations of 3.513 billion bushels. 

For soybean new crop (2019/20) carryout, the USDA estimated 0.475 billion bushels of soybean stocks in the U.S (this is up .015 billion bushels from the .46 billion bushels recorded in the October WASDE).  That compared to trade estimations of 0.429 billion bushels. 

Wheat
For 2019/20 yields, the report estimated wheat yield would be 51.7 bushels per acre (this is up 0.1 bushels per acre from the October WASDE report of 51.6 bushels per acre).  There was not a published trade estimate of this number before the report.

For 2019/20 production, the report estimates that total wheat production will be 1.92 billion bushels (this is down 0.042 billion bushels from the October WASDE report of 1.962 billion bushels).  There was not a published trade estimate of this number before the report.

For wheat new crop (2019/20) carryout, the USDA estimates 1.014 billion bushels of wheat stocks in the U.S (this is down 0.029 billion bushel from the October WASDE report of 1.043 billion bushels).  That compared to trade estimates of 1.035 billion bushels.