The 2023/24 U.S. #corn outlook is little changed from last month with increases to both beginning and ending stocks.
Corn area and yield forecasts are unchanged.
NOTE: Russia’s recent military action in Ukraine significantly increased the uncertainty of agricultural supply and demand conditions in the region and globally. The April WASDE represents an ongoing assessment of the short-term impacts as a result of this action. - @usda_nass
Feed and residual use is lowered 25 million bushels to 5.625 billion based on indicated disappearance during the Dec-Feb quarter. Corn used to produce ethanol is raised 25 million bushels based on the most recent data from the Grain Crushings and Co- Products Production report...
U.S. soybean supply and use changes for 2021/22 include increased exports and seed use, and lower ending stocks. Soybean exports are raised 25 million bushels to 2.12bln, partly offsetting lower exports from Brazil, Ukraine, and Russia.
Soybean planted area for 2022 is estimated at a record 91.0 million acres, up 4 percent from last year. Compared with last year, planted acreage is up or unchanged in 24 of the 29 estimating States.
Corn planted area for all purposes in 2022 is estimated at 89.5 million acres, down 4 percent or 3.87 million acres from last year. Compared with last year, planted acreage is expected to be down or unchanged in 43 of the 48 estimating States.