|
| For corn, USDA lowered average yield by 6.7 bushels per acre from the September forecast, to 155.8 bushels per acre, below the low end of pre-report estimates. It raised planted acreage about 250,000 acres from the June 30 acreage report, to 88.7 million acres, taking harvested acres to 81.3 million.
Forecasted yields decreased from last month throughout much of the Corn Belt and Tennessee Valley, USDA said, with the largest decline in Illinois of 14 bpa; Indiana and Iowa are both down 10 bpa, Missouri and Nebraska down 9 bpa from last month.
For soybeans, USDA now estimates planted acreage of 77.7 million acres, down one percent from the June 30 acreage report, with harvested acreage now forecast at 76.8 million acres. Soybean yields are now expected to average 44.4 bushels per acre, down 0.3 bpa from the September report, and 0.6 bpa below the average trade guess.
If realized the soybean crop would still be record large. Yields are forecast lower or unchanged in all the major producing states except Illinois, Kentucky, Louisiana, Michigan, New York and Wisconsin. Forecasted yields would be record highs in Illinois, Louisiana, Nebraska, New York, North Dakota and Wisconsin, and Minnesota yield would tie its previous record high.
U.S. Supply and Demand Adjustments, Ending Stocks
Adopting the new forecasts from NASS, USDA's World Ag Outlook Board lowered forecasts for 2010/11 ending corn, soybean and wheat stocks. These numbers fell generally near the low end of pre-report forecasts, so this report may be called neutral to bullish when trade resumes.
Edited by No_Till 10/8/2010 08:41
| |
|
155.6 Corn yield Bullish 44.4 Bu soy
