Grain & Milling Annual - 2024 - 8

grain statistics
2022-23 grain markets
CASH GRAIN PRICES
US average monthly cash price, dollars per bushel
10.00
12.00
14.00
16.00
18.00
2.00
4.00
6.00
8.00
Wheat: All wheat, farm price
Corn: No. 2 yellow, central Illinois
Soybeans: Farm price
Five-year trends: Wheat
EXPORTS
(in million bushels)
US share
Flour
Year
2018-19
2019-20
2020-21
2021-22
2022-23
Grain & Products Total
916.0
945.3
971.5
781.9
742.2
20.1
20.2
20.1
18.5
16.5
IMPORTS
(in million bushels)
Year
2018-19
2019-20
2020-21
2021-22
2022-23
Grain Flour & Products
98.0
65.3
55.5
54.2
74.6
37.0
39.6
44.7
41.1
47.3
Total
135.0
104.9
100.2
95.3
121.9
PRODUCTION, ENDING STOCKS,
AVERAGE PRICE
(in million bushels, dollars per bushel)
Ending
Year
2018-19
2019-20
2020-21
2021-22
2022-23
Production
1,884
1,078
1,825
1,645
1,650
Stocks
1,072
964
843
660
580
Average
Price
5.16
4.55
4.58
7.63
7.50
Year
2018-19
2019-20
2020-21
2021-22
2022-23
Source for all data: USDA
Flour and products converted to wheat grain equivalent. Totals may not add because of rounding. Some data from previous years may have been revised.
8 | GRAIN & MILLING ANNUAL 2024
Year
2018-19
2019-20
2020-21
2021-22
2022-23
936.1
965.5
991.6
800.4
758.7
world trade
in percent
14.6
16.1
13.6
10.5
9.4
Year
2018-19
2019-20
2020-21
2021-22
2022-23
CONSUMPTION
(in million bushels)
Total
Feed
use
5,275
5,600
5,650
5,600
5,425
Ethanol
5,425
5,425
4,950
5,330
5,225
Food/
seed
1,430
1,395
1,425
1,445
1,410
domestic
use
12,130
12,420
12,025
12,375
12,060
PRODUCTION, ENDING STOCKS,
AVERAGE PRICE
(in million bushels, dollars per bushel)
Ending
Production
14,420
13,617
14,182
15,115
13,730
Stocks
2,360
2,240
1,552
1,525
1,457
Average
Price
3.60
3.60
4.20
5.95
6.60
Year
2018-19
2019-20
2020-21
2021-22
2022-23
Year
2018-19
2019-20
2020-21
2021-22
2022-23
Crush
2,065
2,160
2,200
2,190
2,220
Other
164
51
125
117
120
Exports
2,100
1,775
2,550
2,475
1,625
WHEAT
Supply
Wheat
Corn
Soybeans
Beginning stocks ........ 698.4
Production .............. 1,649.9
Imports ...................... 121.9
Total ........................ 2,470.2
Demand
Food use .................... 972.6
Seed ............................. 68.6
Feed/other .................... 90.2
Exports ....................... 758.7
Total ........................ 1,890.1
CORN
Supply
Beginning stocks ........ 1,377
Production ............... 13,730
Imports ........................... 35
Total ......................... 15,142
Demand
Feed ........................... 5,425
Ethanol ....................... 5,225
Other .......................... 1,410
Exports ....................... 1,625
Total ......................... 12,060
Ending stocks ............ 1,457
Stocks/use ................12.1%
Average price (per bu) $6.60
Planted acres ............... 88.6
Harvested acres ........... 79.2
Yield (bu/acre) ........... 173.3
Ending stocks ............ 580.1
Stocks/use ................30.7%
Average price (per bu) $7.50
Planted acres ............... 45.7
Harvested acres .......... 35.5
Yield (bu/acre) ............. 46.5
2022-23 grain year at a glance
(in million acres, million bushels)
SOYBEANS
Supply
Beginning stocks ........... 274
Production ................. 4,276
Imports ........................... 30
Total ........................... 4,581
Planted acres ............... 87.5
Harvested acres ........... 86.3
Yield (bu/acre) ............. 49.5
Demand
Crush ......................... 2,220
Other ............................. 120
Exports ....................... 1,980
Total ........................... 4,320
Ending stocks ............... 260
Stocks/use ..................6.0%
Average price (per bu)...$14.2
Source for all data: USDA/WASDE / Totals may not add up because of rounding.
Five-year trends: Corn
EXPORTS
(in million bushels)
US share
world trade
in percent
31.0
27.1
35.4
32.5
23.5
Year
2018-19
2019-20
2020-21
2021-22
2022-23
Exports
1,700
1,650
1,682
2,050
1,980
CONSUMPTION
(in million bushels)
Total
domestic use
2,229
2,211
2,325
2,307
2,340
PRODUCTION, ENDING STOCKS,
AVERAGE PRICE
(in million bushels, dollars per bushel)
Ending
Production
4,544
3,552
4,135
4,435
4,276
Stocks
1,070
615
140
350
260
Average
Price
8.50
8.55
11.15
12.60
14.20
Five-year trends: Soybeans
EXPORTS
(in million bushels)
US share
world trade
in percent
31.1
35.0
27.8
36.4
32.0
June-17
Oct
Feb
June-18
Oct
Feb
June-20
Oct
Feb
June-21
Oct
Feb
June-22
Oct
Feb
June-23
Grain & Milling Annual - 2024

Table of Contents for the Digital Edition of Grain & Milling Annual - 2024
