Record-high soybean forecast for 2017 in US

Soy production is expected to be up 2% from 2016, reaching 4.38 billion bushels. The area for soybean harvest is forecast at a record 88.7 million acres (up &% from 2016) with planted area for the nation estimated at a record-high 89.5 million acres, unchanged from the June estimate.

Record soybean yields expected

Soybean yields are expected to average 49.4 bushels per acre, down 2.7 bushels from last year. Record soybean yields are expected in Delaware, Georgia, Kentucky, Missouri, Mississippi, Pennsylvania, and South Carolina.

Corn yield down

At the same time, corn and wheat forecasts are lower for 2017, compared to 2016. Average corn yield is forecast at 169.5 bushels per acre, down 5.1 bushels from last year. If realised, this will be the third highest yield and production on record for the United States. Acres planted to corn, at 90.9 million, remain unchanged from NASS’ previous estimate. As of July 30, 61% of this year’s corn crop was reported in good or excellent condition, 15 percentage points below the same time last year.

Wheat yields down

Wheat production is forecast at 1.74 billion bushels, down 25% from 2016. Growers are expected to produce 1.29 billion bushels of winter wheat this year, down 23% from last year. Durum wheat production is forecast at 50.5 million bushels, down 51% from last year. All other spring wheat production is forecast at 402 million bushels, down 25% from 2016. Based on August 1 conditions, the US all wheat yield is forecast at 45.6 bushels per acre, down 7 bushels from last year.

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[Source: USDA]