Allendale pre-USDA Crop Production Estimates
People still don't seem to be able to agree on what this years US crop will be despite the fact that harvesting has already begun!
Allendale released its latest crop production and yield estimates ahead of USDA's updates due Friday morning, with corn production a little above and soybean production a little below USDA's September estimates.
By comparison, last week Informa predicted larger crops for both corn and soybeans, while FCStone said its survey indicated cuts in both crops.
Does it matter and will the markets actually pay any attention? In the current climate the answer is probably not.
Oh, what were the numbers? I nearly forgot.
Beans 2.882 billion bushels with a yield figure of 39.3bu/acre. Corn 12.139 billion (153.1bu/acre).
The USDA last month put corn output at 12.072 billion bushels with a yield of 152.3 bushels per acre. Soybean production with them was 2.934 billion bushels and yield at 40.0 bushels per acre.
Allendale released its latest crop production and yield estimates ahead of USDA's updates due Friday morning, with corn production a little above and soybean production a little below USDA's September estimates.
By comparison, last week Informa predicted larger crops for both corn and soybeans, while FCStone said its survey indicated cuts in both crops.
Does it matter and will the markets actually pay any attention? In the current climate the answer is probably not.
Oh, what were the numbers? I nearly forgot.
Beans 2.882 billion bushels with a yield figure of 39.3bu/acre. Corn 12.139 billion (153.1bu/acre).
The USDA last month put corn output at 12.072 billion bushels with a yield of 152.3 bushels per acre. Soybean production with them was 2.934 billion bushels and yield at 40.0 bushels per acre.
