In the most recent WADSE report, released on September 12, the USDA raised its yield estimate for the corn crop to a record 183.6 bushels per acre. The agency also increased corn production to 15.186 billion bushels. This is an increase of 39 bushels from August. The harvested acres remain at 82.7 million acres.

On the demand side, the USDA projects total Feed and Residual use at 5.825 billion bushels. Ethanol use is forecast at 5.45 billion bushes. Total domestic use is forecast at 12.665 billion bushels.

Exports for that 2024-25 crop are forecast at 2.3 billion bushels and ending stocks for the new crop are forecast at 2.057 billion bushels.

The forecast for soybeans remained relatively unchanged, with production being powered by 3 million bushes and the average yield being projected at 53.2 bpa. Total production is forecast at 4.586 billion bushels. Ending stocks for the 2024-25 season are forecast at 550 million bushels.

Read more from the latest WADSE report here.