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USDA raises corn, soybean production, yield estimates

The USDA has increased its outlook for the 2017 U.S. corn and soybean crops.

September’s production and yield estimates were up very slightly from the August projections and the USDA expects record soybean production, along with the third largest corn crop on record. Ahead of the report, most analysts were anticipating slight month to month reductions. Crop weather in key U.S. growing areas has been widely variable from planting through late development and this set of numbers does not fully account for damage from either Hurricane Harvey or Hurricane Irma. The USDA will be resurveying those areas, with the changes in October’s set of numbers.

As of September 1st, this year’s corn crop is seen at 14.185 billion bushels with an average yield of 169.9 bushels per acre and harvested area of 83.496 million acres. In August, the USDA estimated production at 14.153 billion bushels with an average yield of 169.5 bushels per acre and in 2016, U.S. corn totaled 15.148 billion bushels with an average yield of 174.6 bushels per acre and harvested area of 86.748 million acres. Soybean production in 2017 is expected to be a record 4.431 billion bushels with an average yield of 49.9 bushels per acre and harvested area of 88.731 million acres. Last month, the USDA saw beans at 4.381 billion bushels with an average yield of 49.4 bushels per acre and last year, soybean production totaled 4.307 billion bushels with an average yield of 52.1 bushels per acre on harvested area of 82.736 million acres.

Just after the release of the report, corn, soybean, and wheat futures were lower. The USDA’s quarterly grain stocks report is out September 29th and the next round of supply, demand, and production numbers is out October 12th.

USDA corn and soybean estimates for Brownfield states:

Illinois: Corn: 2.07 billion bushels, compared to 2.256 billion in 2016; average yield of 189 bushels per acre, compared to 188 a month ago and 197 a year ago; harvested area of 10.95 million acres, compared to 11.45 million last year; Soybeans: 599.72 million bushels, compared to 592.95 million in 2016; average yield of 58 bushels per acre, compared to 58 a month ago and 59 a year ago; harvested area of 10.34 million acres, compared to 10.05 million last year

Indiana: Corn: 918.27 million bushels, compared to 946.31 million in 2016; average yield of 171 bushels per acre, compared to 173 a month ago and 173 a year ago; harvested area of 2.37 million acres, compared to 5.47 million last year; Soybeans: 329.84 million bushels, compared to 324.3 million in 2016; average yield of 56 bushels per acre, compared to 55 a month ago and 57.5 a year ago; harvested area of 5.89 million acres, compared to 5.64 million last year

Iowa: Corn: 2.45 billion bushels, compared to 2.741 billion in 2016; average yield of 187 bushels per acre, compared to 188 a month ago and 203 a year ago; harvested area of 13.1 million acres, compared to 13.5 million last year; Soybeans: 567.15 million bushels, compared to 571.725 million in 2016; average yield of 57 bushels per acre, compared to 56 a month ago and 60.5 a year ago; harvested area of 9.95 million acres, compared to 9.45 million last year

Michigan: Corn: 358.28 million bushels, compared to 320.28 million in 2016; average yield of 169 bushels per acre, compared to 170 a month ago and 157 a year ago; harvested area of 2.12 million acres, compared to 2.04 million last year; Soybeans: 109.92 million bushels, compared to 104.03 million in 2016; average yield of 48 bushels per acre, compared to 49 a month ago and 50.5 a year ago; harvested area of 2.29 million acres, compared to 2.06 million last year

Minnesota: Corn: 1.374 billion bushels, compared to 1.544 million in 2016; average yield of 182 bushels per acre, compared to 183 a month ago and 193 a year ago; harvested area of 7.55 million acres, compared to 8 million last year; Soybeans: 383.05 million bushels, compared to 383.75 million in 2016; average yield of 47 bushels per acre, compared to 49 a month ago and 52.5 a year ago; harvested area of 8.15 million acres, compared to 7.5 million last year

Missouri: Corn: 508.4 million bushels, compared to 570.5 million in 2016; average yield of 164 bushels per acre, compared to 162 a month ago and 163 a year ago; harvested area of 3.1 million acres, compared to 3.5 million last year; Soybeans: 289.1 million bushels, compared to 271.46 million in 2016; average yield of 49 bushels per acre, compared to 49 a month ago and 49 a year ago; harvested area of 5.9 million acres, compared to 5.54 million last year

Nebraska: Corn: 1.72 billion bushels, compared to 1.7 billion in 2016; average yield of 181 bushels per acre, compared to 183 a month ago and 178 a year ago; harvested area of 9.5 million acres, compared to 9.55 million last year; Soybeans: 316.4 million bushels, compared to 314.15 million in 2016; average yield of 56 bushels per acre, compared to 58 a month ago and 61 a year ago; harvested area of 5.65 million acres, compared to 5.15 million last year

Ohio: Corn: 558.79 million bushels, compared to 524.7 million in 2016; average yield of 173 bushels per acre, compared to 171 a month ago and 159 a year ago; harvested area of 3.23 million acres, compared to 3.3 million last year; Soybeans: 269.46 million bushels, compared to 263.78 million in 2016; average yield of 54 bushels per acre, compared to 53 a month ago and 54.5 a year ago; harvested area of 4.99 million acres, compared to 4.84 million last year

South Dakota: Corn: 696 million bushels, compared to 825.93 million in 2016; average yield of 145 bushels per acre, compared to 140 a month ago and 161 a year ago; harvested area of 4.8 million acres, compared to 5.13 million last year; Soybeans: 241.2 million bushels, compared to 255.915 million in 2016; average yield of 45 bushels per acre, compared to 41 a month ago and 49.5 a year ago; harvested area of 5.36 million acres, compared to 5.17 million last year

Wisconsin: Corn: 494.1 million bushels, compared to 573.16 million in 2016; average yield of 162 bushels per acre, compared to 162 a month ago and 178 a year ago; harvested area of 3.05 million acres, compared to 3.22 million last year; Soybeans: 102.72 million bushels, compared to 107.25 million in 2016; average yield of 48 bushels per acre, compared to 48 a month ago and 55 a year ago; harvested area of 2.14 million acres, compared to 1.95 million last year