Grains - Grain Products

WASDE report: wheat, corn, soy - all crops are increasing

May 13, 2020 1:54 PM, Der AUDITOR
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WASHINGTON. The USDA announced the new forecasts for the old and upcoming world crops of wheat, corn and soybeans in the WASDE report.

According to the USDA, the world wheat crop 2020/2021 is expected to increase to 768.49 million metric tonnes, compared to 764.32 million metric tonnes last year, which would represent an increase of 0.5%. World wheat stocks will then rise by 5.0% to 310.12 million metric tonnes. The main increase is due to the Australian wheat crop, which at 24.00 million metric tonnes is expected to be 57.9% higher than last year. Russia's wheat crop also increased by 4.76% to 77 million metric tonnes. In contrast, the EU wheat crop is expected to be 7.6% lower than last year at 143.00 million metric tonnes. EU final wheat stocks are expected to decline slightly by 300,000 metric tonnes to 13.05 million metric tonnes, after initial stocks were raised from 10.3 to 13.35 million metric tonnes compared to the April forecast.

World wheat crop 2020/2021 in 1,000 mt (forecast) 

Country

2020/21

2019/20

USA

50,780

52,260

Canada

34,000

32,350

Argentina

21,000

19,500

Australia

24,000

15,200

China

135,000

133,590

India

103,000

103,600

Russia

77,000

73,610

Ukraine

28,000

29,170

Kazakhstan

13,500

11,450

EU-28

143,000

154,780

World

768,490

764,320

USDA

According to the US Department of Agriculture, the world corn crop in 2020/2021 is expected to increase to just under 1.187 billion metric tonnes, compared with 1.115 billion metric tonnes last year, which would be an increase of 6.5%. World corn stocks will then rise by 7.9% to 339.62 million metric tonnes. The main increase is due to the US corn crop, which is expected to increase by 17.1% to 406.29 million metric tonnes. The Ukrainian corn crop could increase by 8.7% to 39 million metric tonnes. The EU corn crop will increase by 3.0% to 68.3 million metric tonnes.

World corn crop 2020/2021 in 1,000 mt (forecast)

Country

2020/21

2019/20

USA

406,290

347,050

Argentina

50,000

50,000

Brazil

106,000

101,000

China

260,000

260,770

South Africa

14,000

16,000

Ukraine

39,000

35,890

EU-28

68,300

66,300

World

1,186,860

1,114,750

USDA

The world soybean crop 2020/2021 is expected to increase to 362.76 million metric tonnes, compared to 336.11 million metric tonnes last year, which is an increase of 7.9%. World soybean stocks are expected to decline by 1.9% to 98.39 million metric tonnes. The main increase in production is due to the soybean crop in the USA, which is expected to increase by 16.0% year-on-year to 112.26 million metric tonnes. On the demand side, the USDA expects China's imports to increase by 4 to 96 million metric tonnes. The decline in world soybean stocks is the result of a 22.3% increase in soybean exports.

World soybean crop 2020/2021 in 1,000 mt (forecast)

Country

2020/21

2019/20

USA

112,260

96,790

Argentina

53,500

51,000

Brazil

131,000

124,000

China

17,500

18,100

India

10,900

10,900

EU-28

2,630

2,630

World

362,760

336,110

USDA

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