A new survey of farmers across the U.S. indicates that this year’s corn crop could fall below ten billion bushels.
Based on that survey and current crop ratings, Farm Futures estimates the crop at just 9.86 billion bushels with an average yield of 117.6 bushels per acre.
The soybean crop is estimated at just under 2.7 billion bushels, based on yields on 35.8 bushels per acre nationwide.
The survey included more than 18-hundred farmers.
USDA will issue its first “official” yield and production forecasts for the 2012 corn and soybean crops on August 10th.