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Wheat
The 2020/21 U.S. wheat crop is projected at 1,866 million bushels, down 3 percent from last year on lower yields offsetting higher harvested acreage. Exports for 2020/21 are projected at 950 million bushels, down 20 million from the revised 2019/20 exports. Greater global 2020/21 export competition is expected for the United States with several major exporters projected having larger supplies.
Corn
The corn crop is projected at a record 16.0 billion bushels, up from last year on increased area and a return to trend yield. U.S. 2020/21 corn exports are forecast to rise 375 million bushels to 2,150 million, driven by growth in world corn trade. Corn use is also projected at a record level as food, seed, and industrial (FSI) use, feed and residual use and exports all increase from the 2019/20 COVID-19 impacted levels.
Soybeans
The soybean crop is projected at 4.125 billion bushels, up 568 million from last year on increased harvested area and trend yields. The U.S. soybean crush for 2020/21 is projected at 2.130 billion bushels, up slightly from the 2019/20 forecast with higher soybean meal disappearance partly offset by lower soybean meal exports. U.S. soybean exports are forecast at 2.050 billion bushels, up 375 million from the revised forecast for 2019/20. With higher global soybean import demand for 2020/21 led by expected gains for China, U.S. export share is expected to rise to 34 percent from the 2019/20 record low of 30 percent.
May 12, 2020/ USDA/ United States.
https://www.usda.gov/
