Estimates for Upcoming WASDE Report July 6, 2023
For Immediate Release
Allendale, Inc. Releases Estimates for Upcoming WASDE Report
CHICAGO, IL. (July 6, 2023) – Allendale, Inc. a Chicago area agricultural commodity analysis and brokerage firm, released estimates for USDA’s WASDE report due July 12, 2023 at 11:00 AM CDT. Allendale’s estimates are what we think USDA will say.
Corn –US yields lowered to -5% deviation from trend to 172.4 bpa.
Brazil projected at 133.0 for 2022/23 and 129.0 for 2023/24. Argentina projected at 35.0 for 2022/23 and 54.0 for 2023/24.
Soybeans – US yields are left at trend of 52.0.
Brazil projected 156.0 for 2022/23 and 163.0 for 2023/24. Argentina projected 25.0 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 |
14884 |
|
Soybeans |
4276 |
4510 |
4300 |
|
All Wheat |
1650 |
1665 |
1669 |
|
Winter Wheat |
1102 |
1136 |
1143 |
|
Hard Red |
531 |
525 |
528 |
|
Soft Red |
337 |
402 |
405 |
|
White |
236 |
209 |
210 |
|
Other Spring |
482 |
|
470 |
|
Hard Red |
446 |
|
440 |
|
White |
36 |
|
30 |
|
Durum |
64 |
|
56 |
|
US Ending Stocks (million bushels) |
||||
|
|
USDA |
ALDL |
USDA |
ALDL |
|
|
22/23 |
22/23 |
23/24 |
23/24 |
|
Corn |
1452 |
1497 |
2257 |
1951 |
|
Beans |
230 |
270 |
350 |
279 |
|
Wheat |
598 |
580 |
562 |
579 |
|
World Ending Stocks (million metric tonnes) |
||||
|
|
USDA |
ALDL |
USDA |
ALDL |
|
|
22/23 |
22/23 |
23/24 |
23/24 |
|
World Corn |
297.55 |
297.00 |
313.98 |
310.42 |
|
World Soybeans |
101.32 |
101.88 |
123.34 |
123.05 |
|
World Wheat |
266.66 |
266.12 |
270.71 |
271.52 |
For questions and comments, please contact Rich Nelson, Chief Strategist at 800-262-7538 or rnelson@allendale-inc.com.
Post Archives
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Soybeans and wheat see pressure this week. Corn holds.
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Rains in the 10-day outlook may slow harvest and offer mild support, exports are needed.
September 20, 2023
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Harvest at 9%, analysts expected 10%, the forecast may slow harvest days 1 – 5
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Funds were aggressive sellers of 41K, now short 135K or 42% of record, solid harvest forecast.
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Snapshots
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