[fullwidth background_color=”” background_image=”” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ background_repeat=”no-repeat” background_position=”left top” video_url=”” video_aspect_ratio=”16:9″ video_webm=”” video_mp4=”” video_ogv=”” video_preview_image=”” overlay_color=”” overlay_opacity=”0.5″ video_mute=”yes” video_loop=”yes” fade=”no” border_size=”0px” border_color=”” border_style=”” padding_top=”20″ padding_bottom=”20″ padding_left=”0″ padding_right=”0″ hundred_percent=”no” equal_height_columns=”no” hide_on_mobile=”no” menu_anchor=”” class=”” id=””][title size=”1″ content_align=”left” style_type=”underline solid” sep_color=”#000000″ margin_top=”” margin_bottom=”” class=”” id=””]Crop Yield Projections up from October[/title][fusion_text]Wednesday, November 11th 2015
This year’s soybean crop will be the biggest ever – and bigger than projected a month ago – and the corn crop is also projected larger than in October, according to the latest USDA forecasts. The soybean harvest, which as of Sunday was 95 percent complete, will total 3.981 billion bushels, up 93 million bushels from October’s estimate, USDA said yesterday in a monthly report, the World Agricultural Supply and Demand Estimates. The increase is mainly due to higher yields in Iowa, Illinois and Minnesota. Corn production will reach 13.654 billion bushels, after USDA added 99 million bushels from the month-ago projection, shy of last year’s record crop of 14.2 billion bushels. Yields are averaging 169.3 bushels an acre, just 1.7 bushels below last year when they were the highest ever. About 93 percent of the crop was in the bin, USDA said Monday in a separate report. Several market contracts traded lower immediately after the release of the report but eventually stabilized later in the day. December corn futures touched a new low of $3.56 a bushel before closing at $3.59. Soybeans for January delivery dropped 11 cents to close around $8.55 a bushel. In the report, USDA projected a season-average corn price 15 cents lower at $3.35 to $3.95 per bushel, and the soybean range dropped 25 cents on both ends to $8.15 to $9.65 per bushel.
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