Nov. 8 Crop Report Highlights
(KFEQ/USDA)--Here's the highlights of the crop report released today from USDA.
Corn production is forecast at 14.0 billion bushels, up 1 percent from the previous forecast and up 30 percent from 2012. This would be a new record production for the United States. Based on conditions as of November 1, yields are expected to average 160.4 bushels per acre, up 5.1 bushels from the previous forecast and 37.0 bushels above the 2012 which would make this the highest average yield since 2009. Area harvested for grain is forecast at 87.2 million acres, down 2 percent from the previous forecast and down slightly from 2012.
Soybean production is forecast at 3.26 billion bushels, up 3 percent from the previous forecast and up 7 percent from last year. At that level, production would be the third largest on record. Based on November 1 conditions, yields are expected to average 43.0 bushels per acre, up 1.8 bushels from the previous forecast and up 3.2 bushels from 2012. Area for harvest in the United States is forecast at 75.7 million acres, down 1 percent from both the previous forecast and last year.
Projected U.S. wheat supplies for 2013/14 are raised 26 million bushels with higher estimated production and an increase in expected imports. Production was raised 14 million bushels in the September 30 Small Grains report.
Production is further raised 2 million bushels for Hard Red Spring (HRS) wheat and slightly for Durum based on the resurvey of North Dakota and Montana producers who had not finished harvesting when the September survey was completed for the Small Grains report.