USDA Releases WASDE Report

Very few major changes were made in the latest edition of the world agriculture supply and demand estimates published Friday by the U.S. Department of Agriculture.

For the 2023-24 crop year, the USDA pegged total domestic wheat production at 1.665 billion bushels, slightly higher than the 1.659 billion in the department’s May estimates.

The report held 2023-24 U.S. corn production at May’s 15.265 billion bushels, domestic use at 12.385 billion, and exports at 2.1 billion.

For soybeans, the June WASDE maintained production from May at 4.51 billion bushels with total use also remaining at 4.411 billion and exports at 1.975 billion.

Among the world’s wheat producers in 2023-24, the department kept Canada at 37 million tonnes.

In USDA’s monthly oilseed report, it pegged global canola/rapeseed production for 2023-24 at 87.2 million tonnes, of which 20.3 million is to be grown in Canada.

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