Glacier Farm Media | MarketsFarm – The United States Department of Agriculture cut its calls for 2024/25 U.S. soybean and corn production in its World Agricultural Supply and Demand Estimates (WASDE) released Jan. 10.
The USDA reduced domestic soybean production for 2024/25 to 4.37 billion bushels from 4.46 billion in its December report. That came as the department trimmed harvested soybean acres to 86.10 million from 86.30 million and lopped off one bushel from the yield estimate, now at 50.70 bushels per acre. Although exports were held at 1.83 billion bushels, the carryover was cut to 380 million bushels from last month’s 470 million.
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The 2024/25 U.S. corn harvest was cut to 14.87 billion bushels from 15.14 billion. Although harvested acres were bumped up 82.90 million, yields fell to 179.30 bu./ac. from 183.10. That lowered ending stocks 200 million bushels at 1.54 billion.
Domestic wheat output was held at 1.97 billion bushels, as were harvested acres of 38.50 million and yields of 51.20 bu./ac. But ending stocks were nudged up to 798 million bushels from 795 million.
On the world stage, the USDA upped its call on wheat production for 2024/25 by 290,000 tonnes from December to 793.24 million and added almost one million tonnes to the global carryover of 258.82 million tonnes.
The department’s global corn estimates saw production fall by approximately 3.50 million tonnes at 1.21 billion. That lowered ending stocks to by 3.10 million tonnes at 293.34 billion.
World soybean output for 2024/25 lost 2.88 million tonnes from December, coming in at 424.26 million. That helped to cut global ending stocks by 3.50 million tonnes at 128.37 million.
The USDA estimated total domestic corn stocks at 12.10 billion bushels, down one per cent from a year ago. U.S. soybean stocks came to 3.10 billion bushels, up three per cent from December 2023, and all wheat stocks grew 10 per cent at 1.57 billion bushels.
The department’s projections for winter wheat seedings in a separate prospective plantings report tallied 34.12 million acres compared to 33.39 million in 2024, but short of the 36.70 million planted in 2023. For 2025, that broke down to 24.0 million acres of hard red winter wheat, 6.44 million of soft red winter, 3.64 million of white winter and so far, 75,000 of durum. The USDA will have more data on durum in its March prospective plantings report.
