News

USDA raises corn, soybean crop outlooks

The USDA has increased its expectations for this year’s corn and soybean crops.

Corn production is projected at 15.019 billion bushels with an average yield of 176.5 bushels per acre and new crop ending stocks of 1.5 billion bushels, all larger than expected and above the September estimates. Harvested area was unchanged at 85.085 million acres. In 2020, corn production was 14.111 billion bushels with an average yield of 171.4 bushels per acre and harvested area of 82.313 million acres.

Soybeans are seen at a record 4.448 billion bushels with an average yield of 51.5 bushels per acre and new crop ending stocks of 320 million bushels, also all above pre-report estimates and the previous month’s projections. Harvested area held at 86.436 million acres. In 2020, soybean production was 4.216 billion bushels with an average yield of 51 bushels per acre and harvested area of 82.603 million acres.

The numbers remain highly variable, with harvest ongoing.

U.S. wheat ending stocks saw a slightly greater than expected cut to 580 million bushels thanks to reduced production and import estimates, which canceled out an anticipated decline in feed use.

Just after the release of the reports, soybean and corn continued to trade lower, while wheat moved fully higher.

The USDA’s next set of supply, demand, and production numbers is out Tuesday, November 9^th at Noon Eastern/11 Central.

Comparisons for Brownfield states:

Arkansas: Corn: 152.72 million bushels, compared to 111.32 million in 2020; average yield of 184 bushels per acre, compared to 182 a month ago and 184 a year ago; harvested area of 830,000 acres, compared to 605,000 last year; Soybeans: 150.5 million bushels, compared to 144.2 million in 2020; average yield of 50 bushels per acre, compared to 50 a month ago and 51.5 a year ago; harvested area of 3.01 million acres, compared to 2.8 million last year

Illinois: Corn: 2.268 billion bushels, compared to 2.120 billion in 2020; record expected average yield of 210 bushels per acre, compared to 214 a month ago and 191 a year ago; harvested area of 10.8 million acres, compared to 11.1 million last year; Soybeans: 675.2 million bushels, compared to 615 million in 2020; record expected average yield of 64 bushels per acre, compared to 64 a month ago and 60 a year ago; harvested area of 10.55 million acres, compared to 10.25 million last year

Indiana: Corn: 1.019 billion bushels, compared to 981.75 million in 2020; record expected average yield of 194 bushels per acre, compared to 197 a month ago and 187 a year ago; harvested area of 5.25 million acres, steady with last year; Soybeans: 341.4 million bushels, compared to 338.07 million in 2020; record expected average yield of 60 bushels per acre, compared to 60 a month ago and 59 a year ago; harvested area of 5.69 million acres, compared to 5.73 million last year

Iowa: Corn: 2.503 billion bushels, compared to 2.283 billion in 2020; average yield of 201 bushels per acre, compared to 198 a month ago and 177 a year ago; harvested area of 12.45 million acres, compared to 12.9 million last year; Soybeans: 611.22 million bushels, compared to 505.98 million in 2020; record expected average yield of 61 bushels per acre, compared to 59 a month ago and 54 a year ago; harvested area of 10.02 million acres, compared to 9.37 million last year

Kansas: Corn: 742 million bushels, compared to 766.48 million in 2020; average yield of 140 bushels per acre, compared to 168 a month ago and 134 a year ago; harvested area of 5.3 million acres, compared to 5.72 million last year; Soybeans: 201.6 million bushels, compared to 194.75 million in 2020; average yield of 42 bushels per acre, compared to 40 a month ago and 41 a year ago; harvested area of 4.8 million acres, compared to 4.75 million last year

Michigan: Corn: 336.87 million bushels, compared to 304.47 million in 2020; record expected average yield of 171 bushels per acre, compared to 174 a month ago and 153 a year ago; harvested area of 1.97 million acres, compared to 1.99 million last year; Soybeans: 107 million bushels, compared to 105.12 million in 2020; average yield of 50 bushels per acre, compared to 50 a month ago and 48 a year ago; harvested area of 2.14 million acres, compared to 2.19 million last year

Minnesota: Corn: 1.388 billion bushels, compared to 1.434 billion in 2020; average yield of 178 bushels per acre, compared to 174 a month ago and 191 a year ago; harvested area of 7.8 million acres, compared to 7.51 million last year; Soybeans: 373.87 million bushels, compared to 369 million in 2020; average yield of 49 bushels per acre, compared to 47 a month ago and 50 a year ago; harvested area of 7.63 million acres, compared to 7.38 million last year

Missouri: Corn: 554.32 million bushels, compared to 560.88 million in 2020; average yield of 164 bushels per acre, compared to 169 a month ago and 171 a year ago; harvested area of 3.38 million acres, compared to 3.28 million last year; Soybeans: 282.5 million bushels, compared to 296.31 million in 2020; average yield of 50 bushels per acre, compared to 51 both a month ago and a year ago; harvested area of 5.65 million acres, compared to 5.81 million last year

Nebraska: Corn: 1.824 billion bushels, compared to 1.78 billion in 2020; average yield of 190 bushels per acre, compared to 188 a month ago and 180 a year ago; harvested area of 9.6 million acres, compared to 9.89 million last year; Soybeans: 338.55 million bushels, compared to 299.28 million in 2020; record expected average yield of 61 bushels per acre, compared to 59 a month ago and 58 a year ago; harvested area of 5.55 million acres, compared to 5.16 million last year

Ohio: Corn: 635.44 million bushels, compared to 564.3 million in 2020; record expected average yield of 188 bushels per acre, compared to 190 a month ago and 171 a year ago; harvested area of 3.38 million acres, compared to 3.3 million last year; Soybeans: 280.14 million bushels, compared to 270.6 million in 2020; record expected average yield of 58 bushels per acre, compared to 58 a month ago and 55 a year ago; harvested area of 4.83 million acres, compared to 4.92 million last year

South Dakota: Corn: 751.45 million bushels, compared to 720.9 million in 2020; average yield of 133 bushels per acre, compared to 133 a month ago and 162 a year ago; harvested area of 5.65 million acres, compared to 4.45 million last year; Soybeans: 218 million bushels, compared to 226.32 million in 2020; average yield of 40 bushels per acre, compared to 38 a month ago and 46 a year ago; harvested area of 5.45 million acres, compared to 4.92 million last year

Tennessee: Corn: 164.9 million bushels, compared to 138.55 million in 2020; average yield of 170 bushels per acre, compared to 172 a month ago and 170 a year ago; harvested area of 970,000 acres, compared to 815,000 last year; Soybeans: 72.03 million bushels, compared to 81 million in 2020; average yield of 49 bushels per acre, compared to 48 a month ago and 50 a year ago; harvested area of 1.47 million acres, compared to 1.62 million last year

Wisconsin: Corn: 505.68 million bushels, compared to 506.89 million in 2020; average yield of 172 bushels per acre, compared to 172 a month ago and 173 a year ago; harvested area of 2.94 million acres, compared to 2.93 million last year; Soybeans: 111.78 million bushels, compared to 103.48 million in 2020; average yield of 54 bushels per acre, compared to 49 a month ago and 52 a year ago; harvested area of 2.07 million acres, compared to 1.99 million last year