October 6, 2014

The U.S. soy and corn crops will be even largest than expected according to Informa Economics.  Informa has increased its forecast for the U.S. soybean harvest to 260 million bushels to 4.017 billion bushels and has increased its estimate for the U.S. corn harvest by 371 million bushels to 14.395 billion bushels.  Based on historically high national conditions ratings throughout this season, the group has increased its estimate for the U.S. corn yield by 4.6 bushels per acre to 176.4 bushels per acre and has increased its yield estimate for the U.S. soybean crop by 2.0 bushels per acre to 48.5 bushels per acre.  Crop conditions have not been this positive since 1994.  As of the end of September 10% of the soybean crop had been harvested with 72% of the crop rated as good or excellent condition.  Prior to the next U.S. Department of Agriculture (USDA) World Agriculture Supply & Demand Estimates (WASDE) report which is expected to raise its own corn and soybean production estimates, other analysts are releasing increased crop forecasts.  Rabobank has estimated U.S. corn yields to be 175 bushels per acre with potential to increase to between 175 – 180 bushels per acre, and a soybean yield of 48 bushels per acre.  FC Stone indicates a corn yield of 178.4 bushels per acre to produce a harvest of 14.958 billion bushels, and soybean yields of 48.4 bushels per acre to produce a harvest of 4.066 billion bushels.

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