HOUSTON (ICIS)–The US Department of Agriculture (USDA) is projecting higher corn production but a decrease in soybean output according to the July World Agricultural Supply and Demand Estimate (WASDE) report.
In the monthly update corn production for 2024-2025 is forecast up by 240 million bushels on greater planted and harvested area from the June Acreage report, with yield unchanged at 181.0 bushels per acre.
The current outlook is also calling for larger supplies, greater domestic use and exports, and slightly lower ending stocks.
Corn beginning stocks are lowered 145 million bushels, mostly reflecting a greater use forecast with exports raised by 75 million bushels based on current outstanding sales and shipments to date.
Published by: www.icis.com
Mark Milam
12-Jul-2024
