It’s good news for corn, not-so-good news for soybeans

doc4e53baf683054176728273 IOWA – Corn yields are looking up while soybean yields are looking down, according to a U.S. Department of Agriculture (USDA) report released Thursday, Aug. 11.
Nationwide, corn production is forecast at 12.9 billion bushels – up 12.45 billion bushels, or 4 percent from 2010.
“Based on conditions as of Aug. 1, yields are expected to average 153.0 bushels per acre, up 0.2 bushel from 2010, and the fourth highest yield on record,” states the report. “Acreage planted for all purposes is estimated at 92.3 million acres, unchanged from the June estimate. Area harvested for grain is forecast at 84.4 million acres, down less than 1 percent from June, but up 4 percent from 2010.”
The State of Iowa is forecast to produce more than 2.43 billion bushels of corn, retaining its status as the no. 1 corn producing state. However, Illinois is expected to come in at a close second, with just over 2.09 billion bushels of corn. This year, Iowa looks to produce 177.0 bushels per acre, up from 165.0 in 2010.

Meanwhile, the USDA report states that soybean production is forecast to drop from last year.
Soybean yields are expected to be at 3.06 billion bushels – down 3.22 billion bushels, or 8 percent from last year. “Based on Aug. 1 conditions, yields are expected to average 41.4 bushels per acre, down 2.1 bushels from last year,” states the report. “Area for harvest in the United States is forecast at 73.8 million acres, down less than 1 percent from June and down 4 percent from 2010. Planted area for the Nation is estimated at 75.0 million acres, down fractionally from June.”
In Iowa, soybean production is expected to be at 473 million bushels, down from 496 million in 2010. Still, the yield estimate comes in at 52.0 bushels per acre, up 1 bushel per acre from 2010.

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