Commodity Blog

Jul 18 2023

Crop Forecast Shift: Barchart Increases Corn Yield Estimates, Cuts Soybean Projections

We just released our latest Crop Production and Forecast report for US Corn and Soybeans

The latest report brings news of a slight increase in US corn production, with the end-of-season estimate settling at 14,993 million bushels. The yield stands at an average of 177.97 bushels per acre. This compares to the previous estimate of 14,975 million bushels with a yield of 177.76 bu/ac.  Our Corn forecast is 0.5 (bu/ac) above the USDA’s latest forecast. 

But that's not all! The report also sheds light on the soybean outlook. The report indicates that end-of-season US soybean production is projected to be 4,376 million bushels, with a yield of 50.59 bushels per acre.  This compares to the previous estimate of 4,376 million bushels and 50.59 bu/ac yield.  Our Soybean forecast is 1.2 (bu/ac) below the USDA's most recent forecast.

Barchart's Crop Production Forecasts serve as an indispensable resource for stakeholders within the corn and soybean industries. Their comprehensive analysis allows us to navigate the ever-changing landscape of crop production, empowering decision-makers with the knowledge necessary for strategic planning and informed action. When it comes to staying ahead in these industries, Barchart's forecasts are an absolute game-changer!

Hold on tight, because there's even more excitement on the horizon! We invite you to join us at Barchart's 3-day Grain Merchandising and Technology Conference in Downtown Nashville this September, which will feature product demos, panel discussions, industry awards, a charity golf outing, and many networking opportunities. Visit our event website to learn more.

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