CASFS Blog & Forum

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Thursday, August 07, 2008

Good News on the Grain Front

According to a new survey by Farm Futures Magazine, corn and soybean crops appear to have largely recovered. Normal yields are still possible, if not likely. Based on a survey of more than 700 farmers, as well as crop ratings and agronomic data, Farm Futures currently estimates 2008 corn production at 12,061 million bushels, based on average U.S. yields of 154 bushels per acre. USDA, which updates its forecast on Aug. 12, last estimated corn production at 11,715 million based on yields of 148.4 bpa. For soybeans, Farm Futures estimates a crop of 3,038 million bushels, based on national yields of 42.5 bpa. Unlike corn, survey data suggests farmers planted fewer soybeans than USDA previously forecast, in part because a late wheat harvest reduced double crop acres. USDA in July estimated soybean production at 3 billion bushels, based on yields of 41.6 bpa.

posted by CASFS 2006 @ 8:54 PM

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