Home > News > October 12 USDA Crop Production and WASDE Report Summary

USDA released its latest Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports on Tuesday, October 12. The 2021-22 soybean yield saw an increase of nearly a bushel to 51.5 bushels per acre. What affect did that have on the soybean production totals? It increased soybean production to 4.448 billion bushels (bb) which ended up tanking the soybean markets and if realized, would be a new production record. Corn followed suit with a slight yield increase, raising the corn crop estimate to 15.019 bb. The 2021-22 wheat ending stocks dropped to 580 million bushels which is the lowest U.S. ending stocks in 14 years due to lowered production. At the core of the the report was that U.S. ending stocks were bearish for corn and soybeans, while remaining neutral for wheat. While in the WASDE, the world ending stock estimates were bearish for corn and soybeans but on the bullish side for wheat. The full reports can be accessed here for the Crop Production Report and here for the WASDE report. Learn more details about DTN analysis of the Crop Production and WASDE reports here.

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