Analysts expect USDA to lower corn, soybean production estimates

Ahead of Friday’s supply and demand update, analysts see the Ag Department lowering its 2010 corn and soybean production and yield estimates.

The average of all analysts’ estimates for corn production is 13.199 billion bushels with an average yield of 163.1 bushels per acre, compared to August’s projection of 13.365 billion bushels with an average yield of 165.0 bushels per acre. In 2009, corn totaled 13.110 billion bushels with an average yield of 164.7 bushels per acre.

For soybeans, the average guess is 3.406 billion bushels with an average yield of 43.8 bushels per acre. Last month, USDA pegged beans at 3.433 billion bushels with an average yield of 44.0 bushels per acre. The 2009 crop totaled 3.359 billion bushels with an average yield of 44.0 bushels per acre.

The numbers are out 7:30 AM Central, Friday September 10.