After months of speculation, on Friday, January 11, we’ll know just how much of an impact drought had, or maybe didn’t have, on the 2012 U.S. corn and soybean crops.
Ahead of the USDA numbers, Informa Economics sees 2012 corn production at 10.801 billion bushels with an average yield of 122.3 bushels per acre. Soybeans are estimated at 3.036 billion bushels with an average yield of 40.1 bushels per acre. All of those projections are larger than USDA’s most recent estimates.
The production figures are part of a slew of market sensitive reports out on the 11th at the new release time of Noon Eastern/11 AM Central. Also out on the 11th are quarterly grain stocks in all positions, monthly ending stocks projections, and winter wheat acreage estimates.