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Trade forecasts for the USDA's September 11 Wasde report

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The US Department of Agriculture will on Friday at 11am Chicago time (5pm UK time) reveal its September edition of the Wasde report on world crop supply and demand.

 

Below, results of Bloomberg and Reuters surveys on what investors expect for US corn, soybean and wheat data, plus expectations for US and world cotton supply and demand, as measured by a Bloomberg poll.

 

 

 

 

Trade forecasts for Wasde estimates for US 2020 corn and soybean production
Bloomberg Reuters
Consensus forecast Range of forecasts Consensus forecast Range of forecasts Existing USDA estimate
US corn area harvested (m acres)
83.5 82.7-84.2 84.0
US corn yield (bushels per acres) 178.4 176.0-181.0 178.3 175.4-181.0 181.8
US corn production (bn bushels) 14.891

14.625-15.095

14.898 14.743-15.095 15.278
US soy area harvested (m acres)
82.9 82.5-83.0 83.0
US soy yield (bushels per acres) 51.7 50.1-52.9 51.8 50.8-52.9 53.3
US soy production (bn bushels) 4.292 4.174-4.391 4.295 4.217-4.391 4.425

 

 

Trade forecasts for Wasde data on US and world 2020-21 closing stocks
Bloomberg

Reuters

Consensus forecast Range of forecasts Consensus forecast Range of forecasts Existing USDA estimate
US corn (bn bushels) 2.456 2.153-2.697 2.451 2.177-2.589 2.756
US soybeans (bn bushels) 0.467 0.379-0.551 0.465 0.379-0.551 0.610
US wheat (bn bushels)
0.925 0.900-0.978 0.924 0.900-0.978 0.925
World corn (m tonnes 311.05 304.00-317.00 311.11 304.00-317.00 317.46
World soybeans (m tonnes) 93.30 89.50-97.00 93.11 89.50-96.00 95.36
World wheat (m tonnes) 315.95 312.00-320.00 315.81 312.00-320.00 316.79

 

 

Trade forecasts for Wasde data on US and world 2019-20 closing stocks
Bloomberg

Reuters

Consensus forecast Range of forecasts Consensus forecast Range of forecasts Existing USDA estimate
US corn (bn bushels) 2.233 2.128-2.343 2.234 2.138-2.326 2.228
US soybeans (bn bushels) 0.603 0.574-0.664 0.600 0.574-0.620 0.615
World corn (m tonnes 310.90 308.00-314.30 311.30
World soybeans (m tonnes) 95.70 94.00-96.50 95.85
World wheat (m tonnes) 300.46 299.00-301.00 300.91

 

 

 

 

 

Trade forecasts for Wasde estimates for US and world 2019-20 cotton supply and demand
Bloomberg

Existing USDA estimate
Consensus forecast Range of forecasts
US production
17.57 16.75-18.00 18.08
US exports
15.19 14.75-16.50 15.00
US end stocks
7.01 6.00-7.50 7.60
World production
117.07 116.20-118.16 117.53
World consumption
113.22 112.17-114.20 113.05
World end stocks
104.44 103.20-106.81 104.91
All figures in million bales

 

 

 

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