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World Agricultural Supply and Demand Estimates Report (WASDE)
The World Agricultural Outlook Board (WAOB) serves as USDA’s focal point for economic intelligence and the commodity outlook for U.S. and world agriculture. The Board coordinates, reviews, and approves the monthly World Agricultural Supply and Demand Estimates (WASDE) report, houses OCE's Joint Agricultural Weather Facility, and coordinates USDA's Agricultural Outlook Forum. |
The USDA has lowered its 2015 U.S. corn and soybean production estimates. The numbers were pretty close to pre-report expectations.
As of October 1st, U.S. corn production is projected at 13.555 billion bushels, less than 1% lower than the September guess. That’s with a slight increase in average yield, up to 168 bushels per acre, and a reduction in the harvested acreage guess to 80.664 million acres. If realized, that would be the second highest average yield and third largest production total on record. In 2014, U.S. corn production was 14.216 billion bushels with an average yield of 171 bushels per acre and harvested area of 83.136 million acres.
Soybeans are seen at 3.888 billion bushels, down 1% on the month, with a slight increase in average yield to 47.2 bushels per acre and a modest reduction in harvested area to 82.429 million acres. In 2014, U.S. soybean production was 3.927 billion bushels with an average yield of 47.5 bushels per acre and harvested area of 82.591 million acres.
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