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USDA reduces corn, soybean production estimates

USDA made a smaller than expected cut to the corn production estimate while soybeans were just below the average pre-report guess.

In any event, the numbers are still just estimates and continue to show the impact of widespread drought on this year’s corn and soybean crops as both are well below USDA’s initial expectations for the year.

As of the end of August, USDA sees this year’s corn crop at 10.727 billion bushels, down 52 million bushels from last month’s projection and 1.631 billion less than the 2011 total. The average yield is pegged at 122.8 bushels per acre, compared to 123.4 a month ago and 147.2 a year ago. Harvested acreage is estimated at 87.361 million acres, compared to 83.981 million last year. Before the report, on average, analysts saw corn at 10.403 billion bushels with an average yield of 120.6 bushels per acre.

Soybeans are currently projected at 2.634 billion bushels, 58 million less than the August guess and 422 million below 2011. The average yield is estimated at 35.3 bushels per acre, compared to 36.1 last month and 41.5 last year. Harvested area is seen at 74.635 million acres, compared to 73.636 million a year ago. Analysts were expecting beans to be 2.638 billion bushels with an average yield of 35.5 bushels per acre.

The next set of crop production estimates is out October 11.

Production estimates for the Brownfield coverage area:

Illinois: Corn: 1.386 billion bushels, compared to 1.947 billion in 2011; average yield of 110 bushels per acre, compared to 116 a month ago and 157 a year ago; harvested area of 12.6 million acres, compared to 12.4 million last year; Soybeans: 308.95 million bushels, compared to 416.42 million in 2011; average yield of 37 bushels per acre, compared to 37 a month ago and 47 a year ago; harvested area of 8.35 million acres, compared to 8.86 million last year.

Indiana: Corn: 605 million bushels, compared to 839.5 million in 2011; average yield of 100 bushels per acre, compared to 100 a month ago and 146 a year ago; harvested area of 6.05 million acres, compared to 5.75 million last year; Soybeans: 184.63 million bushels, compared to 238.05 million in 2011; average yield of 37 bushels per acre, compared to 37 a month ago and 45 a year ago; harvested area of 4.99 million acres, compared to 5.29 million last year.

Iowa: Corn: 1.904 billion bushels, compared to 2.356 billion in 2011; average yield of 140 bushels per acre, compared to 141 a month ago and 172 a year ago; harvested area of 13.6 million acres, compared to 13.7 million last year; Soybeans: 368.16 million bushels, compared to 466.115 million in 2011; average yield of 39 bushels per acre, compared to 43 a month ago and 50.5 a year ago.

Missouri: Corn: 251.25 million bushels, compared to 349.98 million in 2011; average yield of 75 bushels per acre, compared to 75 a month ago and 114 a year ago; harvested area of 3.35 million acres, compared to 3.07 million last year; Soybeans: 144.2 million bushels, compared to 189.8 million in 2011; average yield of 28 bushels per acre, compared to 30 a month ago and 36.5 a year ago; harvested 5.15 million acres, compared to 5.2 million last year.

Nebraska: Corn: 1.32 billion bushels, compared to 1.536 billion in 2011; average yield of 145 bushels per acre, compared to 147 a month ago and 160 a year ago; harvested area of 9.1 million acres, compared to 9.6 million last year; Soybeans: 200 million bushels, compared to 258.405 million in 2011; average yield of 40 bushels per acre, compared to 43 a month ago and 53.5 a year ago; harvested area of 5 million acres, compared to 4.83 million last year.

Ohio: Corn: 456.12 million bushels, compared to 508.76 million in 2011; average yield of 126 bushels per acre, compared to 126 a month ago and 158 a year ago; harvested area of 3.62 million acres, compared to 3.22 million last year; Soybeans: 183.2 million bushels, compared to 215.65 million in 2011; average yield of 40 bushels per acre, compared to 42 a month ago and 47.5 a year ago; harvested area of 4.58 million acres, compared to 4.54 million last year.

South Dakota: Corn: 508.8 million bushels, compared to 653.4 million in 2011; average yield of 96 bushels per acre, compared to 98 a month ago and 132 a year ago; harvested area of 5.3 million acres, compared to 4.95 million last year; Soybeans: 124.6 million bushels, compared to 150.59 million in 2011; average yield of 28 bushels per acre, compared to 31 a month ago and 37 a year ago; harvested area of 4.45 million acres, compared to 4.07 million last year.

Wisconsin: Corn: 448.5 million bushels, compared to 517.92 million in 2011; average yield of 130 bushels per acre, compared to 132 a month ago and 156 a year ago; harvested area of 3.45 million acres, compared to 3.32 million last year; Soybeans: 60.48 million bushels, compared to 73.6 million in 2011; average yield of 36 bushels per acre, compared to 36 a month ago and 46 a year ago; harvested area of 1.68 million acres, compared to 1.6 million last year.