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Print ArticleThe first estimates ahead of USDA’s August 12 production update are starting to trickle out.
Risk management firm FC Stone sees the 2008/09 U.S. corn crop at 12.197 billion bushels, more than 480 million bushels above the last USDA guess.
The yield is pegged at 154.5 bushels per acre, above the Ag Department’s last forecast of 148.4 bushels per acre and in line with the trend line yield. Soybeans are projected at 2.993 billion bushels, 7 million bushels under the Ag Department’s July estimate. The average yield is seen at 41.5 bushels per acre, a tenth of a bushel less than previously expected, but slightly above last year’s average of 41.2.
Informa Economics expects corn to be around 12.33 billion bushels, with an average yield of 155.4 bushels per acre, and pegs soybeans at 3.054 billion bushels, with an average yield of 42 bushels per acre. Informa has total wheat at 2.537 billion bushels, with an average yield of 44.8 bushels per acre, compared to the USDA’s July estimates for a crop of 2.461 billion bushels and an average yield of 43.5 bushels per acre.
The USDA’s production figures are due out Tuesday August 12 at 7:30 AM Central.