Corn Yield Seen Below USDA Estimate
Based on current crop conditions, the U.S. average corn yield will fall short of USDA's current projection of 137 bu/acre, according to a computerized crop model developed by Kansas State University extension economist Bill Tierney.
Tierney's model pegs the U.S. average yield in a range from 133.5 to 136.5 bu/acre based on conditions as of last Sunday.
A yield in that range would put 2001 corn production at anywhere from 9.25 billion to 9.46 billion bushels, using USDA's harvested acreage estimate.
For soybeans, the computer model still sees yield prospects of 39.1-40.5 bu/acre – in line with USDA's current yield estimate of 39.5 bu/acre.
Using USDA's harvest acreage figure, an average soybean yield in that range would result in a 2001 crop of between 2.91 billion and 3.01 billion bushels.
Editors note: Richard Brock, Soybean Digest's Marketing Editor, is president of Brock Associates, a farm market advisory firm, and publisher of The Brock Report.
To see more market perspectives, visit Brock's Web site at www.brockreport.com.