Estimates for Upcoming WASDE Report June 2, 2023
For Immediate Release
Allendale, Inc. Releases Estimates for Upcoming WASDE Report
CHICAGO, IL. (June 2, 2023) – Allendale, Inc. a Chicago area agricultural commodity analysis and brokerage firm, released estimates for USDA’s WASDE report due June 9, 2023 at 11:00 AM CDT. Allendale’s estimates are what we think USDA will say.
Corn – We expect no change for USDA’s US production on this report. Brazil is projected at 130.0 for 2022/23 and 129.0 for 2023/24 (spring 2024 harvest). Argentina is forecast at 36.0 for 2022/23 and 54.0 for 2023/24.
Soybeans – We expect no change for USDA’s US production on this report. Brazil is projected 155.0 for 2022/23 and 163.0 for 2023/24. Argentina is seen at 26.0 for 2022/23 and 48.0 for 2023/24.
|
|
US Production (million bushels) |
||
|
|
USDA |
USDA |
Allendale |
|
|
22/23 |
23/24 |
23/24 |
|
Corn |
13730 |
15265 |
15265 |
|
Soybeans |
4276 |
4510 |
4510 |
|
All Wheat |
1650 |
1659 |
1654 |
|
Winter Wheat |
1102 |
1130 |
1138 |
|
Hard Red |
531 |
514 |
528 |
|
Soft Red |
337 |
406 |
397 |
|
White |
236 |
211 |
213 |
|
Other Spring |
482 |
|
460 |
|
Hard Red |
446 |
|
430 |
|
White |
36 |
|
30 |
|
Durum |
64 |
|
56 |
|
US Ending Stocks (million bushels) |
||||
|
|
USDA |
ALDL |
USDA |
ALDL |
|
|
22/32 |
22/23 |
24/24 |
23/24 |
|
Corn |
1417 |
1487 |
2222 |
2292 |
|
Beans |
215 |
255 |
335 |
375 |
|
Wheat |
598 |
622 |
556 |
591 |
|
World Ending Stocks (million metric tonnes) |
||||
|
|
USDA |
ALDL |
USDA |
ALDL |
|
|
22/23 |
22/23 |
23/24 |
23/24 |
|
World Corn |
297.41 |
299.15 |
312.90 |
314.02 |
|
World Soybeans |
101.04 |
102.00 |
122.50 |
123.15 |
|
World Wheat |
266.28 |
268.10 |
264.34 |
267.31 |
For questions and comments, please contact Rich Nelson, Chief Strategist at 800-262-7538 or rnelson@allendale-inc.com.
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