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THE VIEWS AND OPINIONS EXPRESSED IN THIS REPORT ARE SOLELY THOSE OF THE USDA. THESE VIEWS AND OPINIONS DO NOT NECESSARILY REPRESENT THOSE OF DANIELS TRADING, ITS STAFF OR ANY CONTRIBUTORS. THE ACCURACY AND VALIDITY OF THE VIEWS AND OPINIONS STATED IN THIS PIECE HAVE NOT BEEN VERIFIED.
|Note: Totals may not add due to rounding. 1/ Marketing year beginning September 1 for corn and sorghum; June 1 for barley and oats. 2/ For a breakout of FSI corn uses, see Feed Outlook table 5 or access the data on the Web through the Feed Grains Database at www.ers.usda.gov/data-products/feed-grains-database.aspx. 3/ Corn processed in ethanol plants to produce ethanol and by-products including distillers' grains, corn gluten feed, corn gluten meal, and corn oil. 4/ Marketing-year weighted average price received by farmers. * For June, planted acres reported in the March 31, 2022, "Prospective Plantings." Harvested acres projected based on historical abandonment and use for silage. For July, corn planted and harvested area as reported in the June 30, 2022, "Acreage." The yield projection is based on a weather-adjusted trend, estimated using the 1988-2021 time period, assuming normal summer growing season weather but lowered to reflect the slow pace of planting progress during May.|
|Area Planted||90.7||93.4||89.5 *||89.9 *||0.4|
|Area Harvested||82.3||85.4||81.7 *||81.9 *||0.2|
|Yield per Harvested Acre||171.4||177.0||177.0 *||177.0 *||0|
|Million Metric Tons|
|Feed and Residual||5,597||5,600||5,350||5,350||0|
|Food, Seed & Industrial 2/||6,471||6,815||6,820||6,820||0|
|Ethanol & by-products 3/||5,033||5,375||5,375||5,375||0|
|Stocks to Use ***||8.33||10.16||9.61||10.09||0.48|
|Avg. Farm Price ($/bu) 4/||4.53||5.95||6.75||6.65||-0.1|
|Note: Totals may not add due to rounding. Reliability calculations at end of report. 1/ Marketing year beginning September 1 for soybeans; October 1 for soybean oil and soybean meal. 2/ Prices: soybeans, marketing year weighted average price received by farmers; oil, simple average of crude soybean oil, Decatur; meal, simple average of 48 percent protein, Decatur. 3/ Reflects soybean oil used for biofuels as reported by the U.S. Energy Information Administration. 4/ Based on an October year crush of 2,205 million bushels for 2021/22 and 2,245 million bushels for 2022/23. *Planted acres are reported in the March 31, 2022 Prospective Plantings report. Harvested acres are based on historical planted-to-harvested ratios. **Planted and harvested acres are from the June 30, 2022 Acreage report. The projected yield is based on a weather-adjusted trend model.|
|Area Planted||83.4||87.2||91.0 *||88.3 **||-2.7|
|Area Harvested||82.6||86.3||90.1 *||87.5 **||-2.6|
|Yield per Harvested Acre||51.0||51.4||51.5 *||51.5 **||0|
|Stocks to Use ***||5.71||4.79||6.11||5.11||-1.01|
|Avg. Farm Price ($/bu) 2/||10.80||13.35||14.70||14.40||-0.3|
|Note: Totals may not add due to rounding. 1/ Marketing year beginning June 1. 2/ Marketing-year weighted average price received by farmers. 3/ Includes imports. * For June, planted acres reported in the March 31, 2022, "Prospective Plantings." Winter wheat harvested area and yield reported in the June 10, 2022, "Crop Production." Area harvested and yield for other spring wheat and Durum are projected using 10-year harvested-to-planted ratios by state and 1985-2021 yield trends by state (except for Arizona and California Durum). For July, area planted, area harvested, yield, and production as reported in July 12, 2022 "Crop Production."|
|Area Planted||44.5||46.7||47.4 *||47.1||-0.3|
|Area Harvested||36.8||37.2||37.1 *||37.6||0.5|
|Yield per Harvested Acre||49.7||44.3||46.9 *||47.3||0.4|
|Feed and Residual||95||100||80||80||0|
|Stocks to Use ***||40.03||34.27||33.26||33.42||0.16|
|Avg. Farm Price ($/bu) 2/||5.05||7.63||10.75||10.50||-0.3|
|Crop||USDA Jul||USDA Jun||Change**|
|Crop||USDA Jul||USDA Jun||Change**|
All information is sourced from The United States Department of Agriculture’s USDA.gov website.
** The "Change" column is calculated by subtracting the previous month’s projections from the current month’s projections.
*** The "Stocks to Use" row is calculated by dividing "Ending Stocks" by "Use, Total".
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