Market News

USDA maintains record corn, soybean estimates

USDA has raised its U.S. corn and soybean production projections. If realized, we’ll see record crops for both this year.

Corn is now seen at 14.395 billion bushels, up 3% from both the August guess and the 2013 total. The average yield is pegged at 171.7 bushels per acre, nearly 13 more than a year ago. Harvested area is estimated at 83.8 million acres, unchanged from August and down 4% on the year.

Soybeans are pegged at 3.913 billion bushels, a 3% rise from last month and a 19% jump from last year. The average yield is seen at 46.6 bushels per acre, which would be up more than 3 from 2013. Harvested area is expected to be 84.1 million acres, up 11% from a year ago, which would also be a new record.

USDA’s estimates for corn and soybean production, yield, and harvested acreage in Brownfield states

Illinois: Corn: 2.289 billion bushels, compared to 2.1 billion in 2013; average yield of 194 bushels per acre, compared to 188 a month ago and 178 a year ago; harvested area of 11.8 million acres, unchanged from last year; Soybeans: 562.8 million bushels, compared to 461.58 million in 2013; 56 bushels per acre, compared to 54 a month ago and 49 a year ago; harvested area of 10.05 million acres, compared to 9.42 million last year

Indiana: Corn: 1.076 billion bushels, compared to 1.035 billion in 2013; average yield of 184 bushels per acre, compared to 179 a month ago and 177 a year ago; harvested area of 5.85 million acres, unchanged from last year; Soybeans: 285.48 million bushels, compared to 264.69 million in 2013; average yield of 52 bushels per acre, compared to 51 a month ago and 51 a year ago; harvested area of 5.49 million acres, compared to 5.19 million last year

Iowa: Corn: 2.442 billion bushels, compared to 2.162 billion in 2013; average yield of 185 bushels per acre, compared to 185 a month ago and 165 a year ago; harvested area of 13.2 million acres, compared to 13.1 million last year; Soybeans: 512.04 million bushels, compared to 411.18 million in 2013; average yield of 51 bushels per acre, compared to 50 a month ago and 44.5 a year ago; harvested area of 10.04 million acres, compared to 9.24 million last year

Missouri: Corn: 562.77 million bushels, compared to 435.2 million in 2013; average yield of 169 bushels per acre, compared to 160 a month ago and 136 a year ago; harvested area of 3.33 million acres, compared to 3.2 million last year; Soybeans: 259.9 million bushels, compared to 197.025 million in 2013; average yield of 46 bushels per acre, compared to 44 a month ago and 35.5 a year ago; harvested area of 5.65 million acres, compared to 5.55 million last year

Nebraska: Corn: 1.566 billion bushels, compared to 1.624 billion in 2013; average yield of 179 bushels per acre, compared to 173 a month ago and 170 a year ago; harvested area of 8.75 million acres, compared to 9.55 million last year; Soybeans: 283.55 million bushels, compared to 252.28 million in 2013; average yield of 53 bushels per acre, compared to 52 a month ago and 53 a year ago; harvested area of 5.35 million acres, compared to 4.76 million last year

Ohio: Corn: 622.92 million bushels, compared to 661.98 million in 2013; average yield of 179 bushels per acre, compared to 177 a month ago and 177 a year ago; harvested area of 3.48 million acres, compared to 374 million last year; Soybeans: 247 million bushels, compared to 217.07 million in 2013; average yield of 50 bushels per acre, compared to 49 a month ago and 49 a year ago; harvested area of 4.94 million acres, compared to 4.43 million last year

South Dakota: Corn: 814 million bushels, compared to 808.68 million in 2013; average yield of 148 bushels per acre, compared to 139 a month ago and 138 a year ago; harvested area of 5.5 million acres, compared to 5.86 million last year; Soybeans: 206.22 million bushels, compared to 183.2 million in 2013; average yield of 42 bushels per acre, compared to 40 a month ago and 40 a year ago; harvested area of 4.91 million acres, compared to 4.58 million last year

Wisconsin: Corn: 510.3 million bushels, compared to 445.3 million in 2013; average yield of 162 bushels per acre, compared to 156 a month ago and 146 a year ago; harvested area of 3.15 million acres, compared to 3.05 million last year; Soybeans: 81.88 million bushels, compared to 58.9 million in 2013; average yield of 46 bushels per acre, compared to 43 a month ago and 38 a year ago; harvested area of 1.78 million acres, compared to 1.55 million last year