Allendale sees smaller corn crop, bigger beans

Ahead of the upcoming USDA reports, Allendale Inc. expects a month to month decline in the corn production total and a slight increase in the soybean number.

Allendale projects the 2012 U.S. corn crop at 10.618 billion bushels with an average yield of 123.2 bushels per acre.

Soybeans are seen at 2.978 billion bushels with an average yield of 39.4 bushels per acre.

Allendale also expects USDA to raise corn and soybean ending stocks while leaving wheat unchanged.

Those reports, along with quarterly grain stocks and winter wheat acreage estimates, are out Friday, January 11 at Noon Eastern/11 AM Central.

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