Informa And Allendale Released Markedly Different Production Forecasts
An exceptionally wet start to the growing season followed by largely ideal weather conditions ever since still has the trade scratching its head over final corn & soybean output in the US.
This was highlighted Friday with the release of two very different production estimates from highly regarded firms Informa and Allendale.
Consulting firm Informa Economics forecast the U.S. corn crop this year at 12.406 billion bushels, and soy production at 3.035 billion bushels.
Commodities brokerage and research firm Allendale Inc forecast U.S. corn production this year at 12.090 billion bushels and soybeans at 2.818 billion bushels.
Allendale's annual survey of farmers in 20 states conducted August 15 to 29 this year was lower than Informa's corn estimate by 316 million bushels, and 217 million less for soybeans.
In August, the U.S. Agriculture Department forecast corn production at 12.288 billion bushels and the soybean crop at 2.973 billion. USDA will update its estimate on September 12.
This was highlighted Friday with the release of two very different production estimates from highly regarded firms Informa and Allendale.
Consulting firm Informa Economics forecast the U.S. corn crop this year at 12.406 billion bushels, and soy production at 3.035 billion bushels.
Commodities brokerage and research firm Allendale Inc forecast U.S. corn production this year at 12.090 billion bushels and soybeans at 2.818 billion bushels.
Allendale's annual survey of farmers in 20 states conducted August 15 to 29 this year was lower than Informa's corn estimate by 316 million bushels, and 217 million less for soybeans.
In August, the U.S. Agriculture Department forecast corn production at 12.288 billion bushels and the soybean crop at 2.973 billion. USDA will update its estimate on September 12.