A bit of a surprising WASDE report, including Iowa numbers

Iowa corn production is forecast at 2.52 billion bushels according to the latest USDA  Crop Production report. Based on conditions as of November 1, yields are expected to average 198 bushels per acre, down 6 bushels per acre from the October 1 forecast, and down 4 bushels per acre from last year. Corn planted acreage is estimated at 13.2 million acres. An estimated 12.8 million of the acres planted will be harvested for grain. 

Soybean production is forecast at 577 million bushels. If realized, this will be the highest production on record with 9.94 million bushels more than the previous record of 567 million bushels set in 2017. The yield is forecast at 58.0 bushels per acre, down 3 bushels per acre from the October forecast, but 1 bushel per acre higher than 2017. Soybean planted acreage is estimated at 10.0 million acres with 9.94 million acres to be harvested.

Nationally, they dropped the average yield by nearly 2 bushels per acre to 178.9 bushels per acre.  That would mean a crop size of 14.6 billion bushels and a carry-out of 1.7 billion bushels.  As far as soybeans, average yield dropped to 52.1 bushels per acre with total production at 4.6 billion bushels and an ending stocks of 955 million bushels.

 

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