News

AccuWeather sees smallest corn, soybean crops in years

AccuWeather is projecting the smallest U.S. corn crop in 7 years following the historically slow, historically wet planting period.

The weather forecast group has production at 13.07 billion bushels, 9.3% less than 2018, and the lowest since 2012 total of 10.76 billion, when the crop was hit hard by drought. The estimate is based on expected harvested acreage, with the possibility late planted corn could be harmed by even an on-time frost.

Soybeans are seen at 3.9 billion bushels, a drop of 14.1% on the year, and potentially the smallest crop since 2013, when production was 3.357 billion bushels. Still, that’s more than what the USDA was projecting in July.

The USDA’s updated corn and soybean production estimates are out Monday at Noon Eastern/11 Central.