November 9th USDA Crop Report

Corn Production Down 1 Percent from October
Forecast Soybean Production Down 1 Percent

Corn production is forecast at 12.5 billion bushels, down 1 percent from the October forecast and down 4 percent from last year’s record production of 13.1 billion bushels. As of November 1, yields are expected to average 154.3 bushels per acre, down 1.5 bushels from the previous month and 10.4 bushels below last year’s record of 164.7 bushels. Forecasted yields decreased from last month throughout much of the Corn Belt, with the biggest decline forecasted in Missouri, down 7 bushels per acre. The expected yield in South Dakota declined 5 bushels from last month while the Nebraska yield dropped 4 bushels per acre. Record high yields are forecast in California, Georgia, Michigan, Minnesota, New York, North Dakota, and Wisconsin.

Soybean production is forecast at a record high 3.38 billion bushels, down 1 percent from the October forecast but up slightly from last year. Based on November 1 conditions, yields are expected to average 43.9 bushels per acre, down 0.5 bushel from last month and down 0.1 bushel from last year’s record high yield. Compared with last month, yields are forecast lower or unchanged in all major-producing States except Delaware, Michigan, Mississippi, North Carolina, Texas, and Wisconsin. The largest decreases in yield from last month are expected in Kansas, Nebraska, New Jersey, and South Dakota, down 2 bushels each. If realized, the forecasted yields in Illinois, Louisiana, New York, and Wisconsin will be record highs and the forecasted yield in Michigan and North Dakota will tie the previous record high. Area for harvest in the United States is forecast at 76.8 million acres, unchanged from the previous forecast but up 1 percent from 2009.

Complete Report

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