WASDE (Oct. 12): Global Course Grain, Oilseeds Production Forecast Down, While U.S. Production Up

Washington, DC — Global coarse grain production for 2021/22 is forecast down 2.9 million tons to 1,494.0 million, according to the Oct. 12 World Agricultural Supply and Demand Estimates from the U.S. Department of Agriculture.

The 2021/22 foreign coarse grain outlook is for lower production, virtually unchanged trade, and larger stocks relative to last month.

Foreign corn production is forecast essentially unchanged as increases for the EU, Canada, Venezuela, and Serbia are largely offset by declines for Ukraine, Russia, and Guatemala.

This month’s 2021/22 U.S. corn outlook is for slightly higher production, increased exports, lower feed and residual use, and larger ending stocks. Corn production is forecast at 15.019 billion bushels, up 23 million on a marginal increase in yield to 176.5 bushels per acre.

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The global wheat outlook for 2021/22 is for reduced supplies, lower consumption, nearly unchanged trade, and smaller ending stocks.

Supplies are projected falling by 8.6 million tons to 1,064.2 million, primarily on the combination of reduced beginning stocks for Iran and reduced production for Canada, Iran, and the United States.

The outlook for 2021/22 U.S. wheat this month is for reduced supplies, lower domestic use, unchanged exports, and decreased ending stocks. Supplies are reduced primarily on lower production from the NASS Small Grains Summary, issued Sept. 30.

Foreign 2021/22 oilseed production is lowered 2.4 million tons to 497.4 million on lower soybean, sunflowerseed, and rapeseed output. Soybean production is lowered for Argentina, India, and the EU.

U.S. oilseed production for 2021/22 is forecast at 130.8 million tons, up 1.5 million from last month with higher soybean production partly offset by lower forecasts for sunflowerseed, canola, peanuts, and cottonseed. Soybean production is forecast at 4.4 billion bushels, up 74 million on higher yields.

To read the full report, click here.

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