Dec 12, 2022
USDA Lowers Expected Corn Exports and Raises Ending Stocks for 2022/23Key Issues: Production
Author: Krista Swanson
The following is a brief analysis by Krista Swanson, the lead economist for the National Corn Growers Association. The United States Department of Agriculture released the December World Agricultural Supply & Demand Estimates (WASDE) report on Friday. Most United States grain and oilseeds estimates were unchanged from last month. Citing slow sales and shipments through early December and competition from other exporters, the USDA lowered corn exports for the 2022/23 marketing year by 75 million bushels resulting in an equivalent increase in projected ending stocks with no other changes on the corn balance sheet. To dig into USDA’s assessment of slow sales, here is a look at corn export sales so far this marketing year. With data through Week 14 of the marketing year, weekly exports for 2022/23 are represented by the solid blue line. Exports to date in this year are notably trailing last year and the five-year average pace represented by the blue dashed and dotted lines. The...
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