JOHN PERKINS
Brownfield Ag News Network
The USDA has trimmed its 2023 corn and soybean production outlooks slightly.
As of October 1st, corn production is seen at 15.064 billion bushels, 1% lower than September, with the USDA also reducing its yield outlook to 173.8 bushels per acre and new crop ending stocks guess to 2.111 billion bushels. Harvested area was unchanged at 87.096 million acres. In 2022, production totaled 13.715 billion bushels with an average yield of 173.4 bushels per acre on harvested area of 19.115 million acres.
Soybean production is pegged at 4.104 billion bushels, down 1% on the month, following a reduction in yield to 49.6 bushels per acre, but with the USDA lowering the export projection, leaving the ending stocks estimate unchanged at 220 million bushels. Last year, U.S. soybean production was 4.27 billion bushels with an average yield of 49.6 bushels per acre on harvested area of 86.169 million acres.
A less than ideal end to the corn and soybean growing season is reflected in this report. Data in the USDA’s objective yield states showed a record number of ears and a year-to-year increase in pod counts, but that came with those reductions in yield, implying the dry weather during finish for both crops did make some impact. The U.S. corn and soybean harvests are ongoing.
U.S. wheat ending stocks were up from last month at 670 million bushels on a higher production figure, which canceled out expected improvements in feed and residual use.
The USDA’s next set of supply, demand, and production estimates is out November 9th.
Indiana: Corn: 1.06 billion bushels, compared to 974.7 million in 2022; Average Yield: Record 197 bushels per acre, compared to 194 a month ago and 190 a year ago; Harvested Area: 5.38 million acres, compared to 5.13 million last year
Soybeans: 334.28 million bushels, compared to 335.225 million in 2022; Average Yield: Record 61 bushels per acre, compared to 60 a month ago and 57.5 a year ago; Harvested Area: 5.48 million acres, compared to 5.83 million last year