USDA Predicts Record Corn Production, Bearish News for Soybeans
TL;DR Summary
The USDA's World Agricultural Supply and Demand Estimates (WASDE) report for July forecasts a record corn crop at 15.32 billion bushels, despite lowering the corn yield estimate to 177.5 bushels per acre. The soybean ending stocks forecast for the new-crop season was lowered to 300 million bushels, while wheat production estimates were increased. The report also provided updates on global exports and ending stocks for corn, soybeans, and wheat.
Topics:business#agriculture#corn-production#global-exports#soybean-ending-stocks#usda#wheat-production
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