Estimates for Upcoming WASDE Report August 7, 2023
For Immediate Release
Allendale, Inc. Releases Estimates for Upcoming WASDE Report
CHICAGO, IL. (August 7, 2023) – Allendale, Inc. a Chicago area agricultural commodity analysis and brokerage firm, released estimates for USDA’s WASDE report due August 11, 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 34.0 for 2022/23 and 54.0 for 2023/24.
Soybeans – US yields lowered to -2% deviation from trend to 51.0.
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 |
15320 |
14885 |
|
Soybeans |
4276 |
4300 |
4276 |
|
All Wheat |
1650 |
1739 |
1755 |
|
Winter Wheat |
1102 |
1206 |
1209 |
|
Hard Red |
531 |
577 |
580 |
|
Soft Red |
337 |
422 |
420 |
|
White |
236 |
207 |
209 |
|
Other Spring |
482 |
479 |
488 |
|
Hard Red |
446 |
441 |
446 |
|
White |
36 |
38 |
42 |
|
Durum |
64 |
54 |
58 |
|
US Ending Stocks (million bushels) |
||||
|
|
USDA |
ALDL |
USDA |
ALDL |
|
|
22/23 |
22/23 |
23/24 |
23/24 |
|
Corn |
1402 |
1437 |
2262 |
2011 |
|
Beans |
255 |
262 |
300 |
260 |
|
Wheat |
580 |
580 |
592 |
635 |
|
World Ending Stocks (million metric tonnes) |
||||
|
|
USDA |
ALDL |
USDA |
ALDL |
|
|
22/23 |
22/23 |
23/24 |
23/24 |
|
World Corn |
296.30 |
296.75 |
314.12 |
310.10 |
|
World Soybeans |
102.90 |
103.11 |
120.98 |
119.80 |
|
World Wheat |
269.31 |
269.28 |
266.53 |
267.21 |
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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Snapshots
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