News

Private forecasters expect increased crop production

Mostly good crop conditions in many key U.S. growing areas have led analysts to further raise production and yield estimates. Using the USDA’s current acreage numbers, Allendale and Informa Economics predict 2016 U.S. corn production at more than 14.7 billion bushels with an average yield topping 170 bushels per acre.  If realized that’s more than a Billion bushels larger than last year.

The analysts pegged soybeans at 3.9 Billion bushels with an average yield of 47 bushels per acre. Informa projects some of the highest yielding regions will be to the West and Midsouth and possible declines in eastern states including Ohio, Pennsylvania and New York.

Informa’s all wheat forecasts increased to 2.3 Billion bushes with winter wheat pegged at 1.7 Billion bushels.

The USDA’s next set of supply, demand, and production projections is out Friday, August 12th at Noon Eastern/11 AM Central.