Allendale sees USDA lowering corn, soybean yield estimates

Ahead of USDA’s September supply and demand update, one major analytical firm sees the Ag Department lowering its corn and soybean yield and production estimates.

Based on a survey of producers in 25 states, Allendale Inc. has corn at 13.147 billion bushels, with an average yield of 162.3 bushels per acre, and soybeans are pegged at 3.37 billion bushels, with an average yield of 43.2 bushels per acre.

Allendale’s high yield on corn was in Butler, Nebraska at 260 bushels per acre and the low was recorded in Essex, Virginia at 25 bushels per acre.

For soybeans, the high was in Fillmore, Nebraska at 75 bushels per acre and the low came in Essex, Virginia at 12 bushels per acre.

Allendale’s estimated frost free date is September 15 for corn and September 18 for soybeans.

Allendale expects corn ending stocks to be the lowest since October 2008 but sees beans at the highest level since the 2006/07 crop year.

Also, the McHenry, Illinois based analytical firm sees USDA lowering the world wheat production estimate and increasing U.S. exports.

The numbers are out first thing Friday, September 10.