Market News

2012 corn, soybean crops top expectations

USDA’s final tallies of the 2012 corn and soybean crops came out above pre-report estimates but still well below the 2011 totals following widespread drought.

The Ag Department says corn totaled 10.780 billion bushels with an average yield of 123.4 bushels per acre and soybeans came out at 3.015 billion bushels with an average yield of 39.6 bushels per acre.

Ahead of the report, analysts were expecting corn to be 10.626 billion bushels with an average yield of 122.4 bushels per acre, while soybeans were pegged at 2.999 billion bushels with an average yield of 39.6 bushels per acre.

In 2011, the U.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.

Planted area for corn was 97.155 million acres, while harvested area was 87.375 million. For soybeans, planted acreage was 77.198 million acres with harvested area at 76.104 million.

USDA’s 2013 prospective planting estimates are out March 28.

2012 corn, soybean numbers for Brownfield states:

Illinois: Corn: 1.286 billion bushels, compared to 1.947 billion in 2011; average yield of 105 bushels per acre, compared to 157 a year ago; planted area of 12.8 million acres, with harvested area of 12.25 million; Soybeans: 383.56 million bushels, compared to 423.225 million in 2011; average yield of 43 bushels per acre, compared to 47.5 a year ago; planted area of 9.05 million acres, with harvested area of 8.92 million.

Indiana: Corn: 596.970 million bushels, compared to 839.500 million in 2011; average yield of 99 bushels per acre, compared to 146 a year ago; planted area of 6.250 million acres, with harvested area of 6.030 million; Soybeans: 223.59 million bushels, compared to 240.695 million in 2011; average yield of 43.5 bushels per acre, compared to 45.5 a year ago; planted area of 5.15 million acres, with harvested area of 5.14 million.

Iowa: Corn: 1.877 billion bushels, compared to 2.356 billion in 2011; average yield of 137 bushels per acre, compared to 172 a year ago; planted area of 14.2 million acres, with harvested area of 13.7 million; Soybeans: 413.85 million bushels, compared to 475.345 million in 2011; average yield of 44.5 bushels per acre, compared to 51.5 a year ago; planted area of 9.35 million acres, with harvested area of 9.3 million.

Missouri: Corn: 247.5 million bushels, compared to 349.980 million in 2011; average yield of 75 bushels per acre, compared to 114 a year ago; planted area of 3.6 million acres, with harvested area of 3.3 million; Soybeans: 155.17 million bushels, compared to 190.165 million in 2011; average yield of 29.5 bushels per acre, compared to 36.5 a year ago; planted area of 5.4 million acres, with harvested area of 5.26 million.

Nebraska: Corn: 1.292 billion bushels, compared to 1.536 billion in 2011; average yield of 142 bushels per acre, compared to 160 a year ago; planted area of 10 million acres, with harvested area of 9.1 million; Soybeans: 207.085 million bushels, compared to 261.36 million in 2011; average yield of 41.5 bushels per acre, compared to 54 a year ago; planted area of 5.05 million acres, with harvested area of 4.99 million.

Ohio: Corn: 448.950 million bushels, compared to 508.760 million in 2011; average yield of 123 bushels per acre, compared to 158 a year ago; planted area of 3.9 million acres, with harvested area of 3.650 million; Soybeans: 206.1 million bushels, compared to 217.92 million in 2011; average yield of 45 bushels per acre, compared to 48 a year ago; planted area of 4.6 million acres, with harvested area of 4.58 million.

South Dakota: Corn: 535.3 million bushels, compared to 653.4 million in 2011; average yield of 101 bushels per acre, compared to 132 a year ago; planted area of 6.15 million acres, with harvested area of 5.3 million; Soybeans: 141.3 million bushels, compared to 150.59 million in 2011; average yield of 30 bushels per acre, compared to 37 a year ago; planted area of 4.75 million acres, with harvested area of 4.71 million.

Wisconsin: Corn: 399.3 million bushels, compared to 517.920 million in 2011; average yield of 121 bushels per acre, compared to 156 a year ago; planted area of 4.35 million acres, with harvested area of 3.3 million; Soybeans: 70.55 million bushels, compared to 74.865 million in 2011; average yield of 41.5 bushels per acre, compared to 46.5 a year ago; planted area of 1.71 million acres, with harvested area of 1.7 million.