Barchart Raises U.S. Crop Forecasts on Higher Yield; Cuts Canadian Wheat Projections
- U.S. Corn Production - Forecast at 15.0B bu with a yield of 180.3 bu/ac. This compares to the USDA’s 15.1B bu of production and 179.5 bu/ac yield.
- U.S. Soybean Production - Forecast at 4.4B bu with a yield of 51.0 bu/ac. This compares to the USDA’s 4.4B bu of production and 50.8 bu/ac yield.
- U.S. Hard Red Winter Wheat Yield - Forecast at 45.5 bu/ac. This compares to the USDA’s yield forecast of 53.6 bu/ac (includes all winter wheat varieties).
- Canadian Spring Wheat Production - Forecast at 816.0M bu with a yield of 50.6 bu/ac. This compares to the AAFC’s 920.8M bu of production and 53.5 bu/ac yield (includes spring wheat and winter wheat, excludes durum wheat).
- Canadian Soybean Production - Forecast at 225.2M bu with a yield of 42.6 bu/ac. This compares to the AAFC’s 228.9M bu of production and 42.8 bu/ac yield.
CHICAGO, IL - August 3, 2021 - Barchart, a leading provider of data services, software and technology to global commodity buyers, agriculture, and the food supply chain, released their August 2021 Yield and Production forecasts for U.S. and Canadian field crops.
“Our forecasts for US field crop production have been revised higher on the back of increased yield expectations for both corn (180.2 bu/ac vs. 176.5 in July) and soybeans (51.0 bu/ac vs 50.0 in July); and now are broadly in line with the USDA’s most recent WASDE report,” said Barchart CSO Keith Petersen.
“Conversely we’ve cut our Canadian production forecasts across both soybeans and wheat, with our Spring Wheat yield forecast down nearly 10% from July. This comes on the back of severe drought conditions across the Canadian prairies, which have inhibited the development of this year’s wheat crop,” added Petersen.
Released for free to the public on the first Tuesday of each month during the growing season, Barchart’s Crop Production and Yield Forecasts for the U.S. and Canada help users with crop marketing and business decisions ahead of official government reports. Barchart clients can access daily updates in cmdtyView or through an API subscription.
“We remain dedicated to providing ag professionals with convenient access to crucial data and information regarding the current outlook of the grain market,” said Barchart CEO Mark Haraburda. “As we continuously work on expanding our data coverage around the world, we are happy to announce our latest yield forecasts for Hard Red Winter Wheat in the U.S., giving users an even more complete picture into the supply-side of U.S. grain."
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To sign up for free semi-monthly estimates for Canadian Crop Production, please click here.
To learn more about Barchart’s Crop Production Forecasts or to receive API access, please visit our website.
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