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USDA revises 2021 corn, soybean crop totals
The USDA has revised 2021 U.S. corn production lower, while raising the total for soybeans.
The department says corn production last year was 15.074 billion bushels, a decrease of 41.4 million from the preliminary number in January, with the average yield down fractionally at 176.7 bushels per acre.
Corn for silage production was 129.5 million tons, down 888,000, with the average yield unchanged at 20.1 tons per acre.
The new 2021 total for soybeans is 4.466 billion bushels, an increase of 30.2 million, with a fractionally higher average yield at 51.7 bushels per acre.
The USDA says the revisions were based on end of the marketing year stock estimates, disappearance data for exports, and farm program administrative data.
The USDA’s next set of supply and demand estimates is out October 12th.
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