USDA’s updated 2012 corn and soybean production estimates are out Friday and analysts, on average, expect the Ag Department to lower the corn projection while increasing soybeans.
Via Dow Jones Newswires, corn is expected to be around 10.629 billion bushels, compared to October’s estimate of 10.706 billion, with an average yield of 122.1 bushels per acre, compared to 122.0 last month. Production projections range from 10.100 billion to 10.881 billion bushels and yield estimates run from 120.9 to 124.0 bushels per acre.
Soybeans are seen at 2.891 billion bushels, compared to 2.860 billion a month ago, with an average yield of 38.2 bushels per acre, compared to 37.8 in October. Crop size expectations run from 2.720 billion to 2.959 billion bushels and yield projections range from 37.1 to 39.1 bushels per acre.
Last year’s corn crop was 12.358 billion bushels with an average yield of 147.2 bushels per acre and soybeans totaled 3.094 billion bushels with an average yield of 41.9 bushels per acre.
The report is out Friday, November 9 at 7:30 AM Central.