Soybean production up, corn down

USDA crop outlook shows larger supplies, use, exports and ending stocks.

U.S. farmers will continue a trend of growing large corn and soybean crops in 2024, according to the USDA’s World Agricultural Supply and Demand Estimates (WASDE) report May 10, although the corn crop is projected slightly down from last year while the soybean crop is larger.

The USDA also is projecting greater domestic use, exports and higher ending stocks for corn, while soybeans should see higher crush, exports and ending stocks as compared to 2023-24.

The U.S. corn crop is...