July WASDE Raises Corn Production, Lowers Corn Stock. Kansas Wheat Production up 53%

The July World Agricultural Supply and Demand Estimates say the 2024-2025 corn outlook calls for larger supplies, greater domestic use and exports, and lower ending stocks. Corn production is forecast up by 240 million bushels on greater planted and harvested area from the June Acreage Report. Yield is unchanged at 181 bushels an acre, and ending stocks are down by five million bushels. The season-average farm price is down ten cents to $4.30 a bushel.

Soybean production is projected at 4.4 billion bushels, 15 million lower on less harvested area. The yield forecast is unchanged at 52 bushels, and ending stocks are down 20 million bushels from June. The season-average soybean price is down a dime to $11.10.

The wheat outlook is for larger supplies, domestic use, exports, and ending stocks. Ending stocks are predicted at 856 million bushels, the highest in five years. The season-average price is down 80 cents at $5.70.

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Based on July 1 conditions, Kansas’s winter wheat production is forecast at 307 million bushels, up 53% from last year, according to the USDA’s National Agricultural Statistics Service. Average yield is forecast at 43 bushels per acre, up 8 bushels from 2023. Area to be harvested for grain is estimated at 7.15 million acres, up 24% from a year ago.

Oat production is forecast at 1.40 million bushels, down 29% from last year. Average yield is
forecast at 40 bushels per acre, down 26 bushels from 2023. Area to be harvested for grain is
estimated at 35,000 acres, up 17% from a year ago.