In its monthly World Agricultural Supply and Demand Estimates released Friday, the USDA expects U.S. corn production to total 15.34 billion bushels, while soybean output is seen at 4.17 billion bushels. Analysts surveyed by The Wall Street Journal had forecast corn production at 15.22 billion bushels, with a yield of 174.9 bushel an acre and ending stocks of 2.11 billion bushels. Soybeans were forecast at production of 4.12 billion bushels, with a yield of 49.8 bushels an acre and ending stocks of 238 million bushels. Corn stockpiles through December totaled 12.17 billion bushels and wheat stocks came in at 1.41 billion bushels. Soybean stocks totaled 3 billion bushels, slightly down from this time last year.

Source: Wall Street Journal January 12, 2024 17:44 UTC