News

USDA lowers corn, soybean estimates

USDA’s latest estimates for corn and soybean production are both down on the month and the year.

Currently, USDA sees corn at 12.310 billion bushels, down 1% from both October’s guess and the 2010 total but still possibly the fourth largest crop in U.S. history. The average yield is pegged at 146.7 bushels per acre, which is 1.4 less than last month and 6.1 below last year and if realized, would be the lowest since 2003. Harvested area is estimated at 83.936 million acres, compared to 2010’s 81.446 million.

Soybeans are projected at 3.046 billion bushels, slightly less than the October estimate and down 9% from 2010. The average yield is seen at 41.3 bushels per acre, two tenths below a month ago and 2.2 lower than a year ago and if realized, the second lowest yield since 2003. Harvested area is expected to be 73.676 million acres, compared to 76.610 million last year.

With all the major numbers just below pre-report estimates, the numbers look slightly bullish.

Illinois: Corn: 1.934 billion bushels, compared to 1.947 billion in 2010; average yield of 156 bushels per acre, compared to 159 a month ago and 157 a year ago; harvested area of 12.4 million acres, unchanged from last year; Soybeans: 407.1 million bushels, compared to 466.075 million in 2010; average yield of 46 bushels per acre, compared to 46 a month ago and 51.5 a year ago; harvested area of 8.85 million acres, compared to 9.05 million last year

Indiana: Corn: 826.5 million bushels, compared to 898.04 million in 2010; average yield of 145 bushels per acre, compared to 145 a month ago and 157 a year ago; harvested area of 5.7 million acres, compared to 5.720 million last year; Soybeans: 222.18 million bushels, compared to 258.505 million in 2010; average yield of 42 bushels per acre, compared to 42 a month ago and 48.5 a year ago; harvested area of 5.29 million acres, compared to 5.33 million last year

Iowa: Corn: 2.334 billion bushels, compared to 2.153 billion in 2010; average yield of 171 bushels per acre, compared to 169 a month ago and 165 a year ago; harvested area of 13.65 million acres, compared to 13.05 million last year; Soybeans: 467.63 million bushels, compared to 496.23 million bushels in 2010; average yield of 50.5 bushels per acre, compared to 50.5 a month ago and 51 a year ago; harvested area of 9.26 million acres, compared to 9.73 million last year

Missouri: Corn: 358.8 million bushels, compared to 369 million in 2010; average yield of 115 bushels per acre, compared to 115 a month ago and 123 a year ago; harvested area of 3.12 million acres, compared to 3 million last year; Soybeans: 194.25 million bushels, compared to 210.405 million in 2010; average yield of 37 bushels per acre, compared to 37 a month ago and 41.5 a year ago; harvested area of 5.25 million acres, compared to 5.07 million last year

Nebraska: Corn: 1.52 billion bushels, compared to 1.469 billion in 2010; average yield of 160 bushels per acre, compared to 160 a month ago and 166 a year ago; harvested area of 9.5 million acres, compared to 8.85 million last year; Soybeans: 257.05 million bushels, compared to 267.75 million in 2010; average yield of 53 bushels per acre, compared to 54 a month ago and 52.5 a year ago; harvested area of 4.85 million acres, compared to 5.1 million last year

Ohio: Corn: 511.98 million bushels, compared to 533.01 million in 2010; average yield of 159 bushels per acre, compared to 154 a month ago and 163 a year ago; harvested area of 3.22 million acres, compared to 3.27 million last year; Soybeans: 208.84 million bushels, compared to 220.32 million in 2010; average yield of 46 bushels per acre, compared to 46 a month ago and 48 a year ago

South Dakota: Corn: 648 million bushels, compared to 569.7 million in 2010; average yield of 135 bushels per acre, compared to 139 a month ago and 135 a year ago; harvested area of 4.8 million acres, compared to 4.22 million last year; Soybeans: 153.9 million bushels, compared to 157.32 million in 2010; average yield of 38 bushels per acre, compared to 39 a month ago and 38 a year ago; harvested area of 4.05 million acres, compared to 4.14 million last year

Wisconsin: Corn: 524.8 million bushels, compared to 502.2 million in 2010; average yield of 160 bushels per acre, compared to 160 a month ago and 162 a year ago; harvested area of 3.28 million acres, compared to 3.1 million last year; Soybeans: 75.2 million bushels, compared to 82.315 million in 2010; average yield of 47 bushels per acre, compared to 45 a month ago and 50.5 a year ago; harvested area of 1.6 million acres, compared to 1.630 billion last year