USDA Modifies 2017 Corn, Soybean Production Forecast

USDA Modifies 2017 Corn, Soybean Production Forecast

Based on conditions as of September 1, yields are expected to average 169.9 bushels per acre, up 0.4 bushel from the August forecast but down 4.7 bushels from 2016. Harvested area of corn was forecast at 83.5 million acres, unchanged from August but down 4% from previous year.

The state experienced record-setting corn and soybean yields in 2016.

Ending stocks for the 2016-2017 marketing year that ended on Aug. 31 likely will be pegged at 2.34 billion bushels, barely lower than the August forecast for 2.37 billion, the analysts said. Additionally, due to Hurricane Irma, USDA will collect harvested acreage data for impacted states ahead of its October Crop Production report.

November Soybean fell 9.5 cents, or 0.99%, to 9.505 bu.

The average yield for corn is forecast at 145 bushels per acre, down 16 bushels from previous year. Harvested area was forecast at a record 88.7 million acres, unchanged from August but up 7% from 2016.

More news: State Senate Passes Foxconn Package

"What would have been a phenomenal year for corn ten years ago now seems average. And, corn condition ratings this year are below last year", Matli said.

The USDA corn production and yield forecasts were above the average of trade expectations of 14 billion bushels and 167.8 bushels an acre, respectively, and were above all individual pre-report trade forecasts except one.

Soybean yield in IN is forecast at 56 bushels per acre, down 1.5 bushels from last year's record high yield, but up 1 bushel from last month.

Sorghum for grain production in South Dakota also is forecast to decline from last year's harvest. The new Wheat forecast pushed its futures higher, prompting a 1.69% increase.

Related Articles

  • Reopening dates for school districts listed

    Reopening dates for school districts listed

    This not only provides information on the state of our buildings and grounds, but also provides feedback on roads county-wide. More than 40 Hillsborough schools were used as shelters and the shelters may need to remain open for displaced families.
    Randy Moss gets inducted into Minnesota Vikings Ring of Honor

    Randy Moss gets inducted into Minnesota Vikings Ring of Honor

    It must have been the shoes because Diggs completely took over the first 30-plus minutes of the Vikings' game against the Saints. Quarterback Sam Bradford outdueled Drew Brees' usual prolific passing attack by switching up his M.O. entirely.
    Rishi Kapoor takes to Twitter to give 'dynasty lessons' to Rahul Gandhi

    Rishi Kapoor takes to Twitter to give 'dynasty lessons' to Rahul Gandhi

    Well, while the young leader said nothing in particular for the Kapoor looks like the senior actor took personal offense over it. Summary: Slamming the demonetisation move, Rahul Gandhi made a novel comment on the Central government.
  • Kulbhushan Jadhav case hearing resumes at ICJ on Wednesday

    Kulbhushan Jadhav case hearing resumes at ICJ on Wednesday

    On May 18, the United Nations top court asked Pakistan to not execute Kulbhushan Jadhav before they decide the case. Pakistan disputes India's allegations and claims it arrested Jadhav from its restive Balochistan province.
    Marc Topkin's takeaways from Tuesday's Rays-Yankees game

    Marc Topkin's takeaways from Tuesday's Rays-Yankees game

    Gray allowed two solo home runs in Tuesday night's loss, but otherwise was spectacular and everything the Yankees had hoped for. With the win, Tampa Bay (72-74) remained four games behind the Twins in the race for the American League's second wild card.
    Nun gets stuck in to clear Hurricane Irma debris — Chainsaw MASS-acre

    Nun gets stuck in to clear Hurricane Irma debris — Chainsaw MASS-acre

    One person said: 'I mean hey.gotta admit nuns [sic] are cool!' The officer took a photo and a video of the nun in action. Sister Margaret Ann added that other locals saw her working and also participated in clearing the debris.
  • Carrie Fisher's Daughter Almost Played Rey in Star Wars: The Force Awakens

    Carrie Fisher's Daughter Almost Played Rey in Star Wars: The Force Awakens

    The couple was together for approximately eight months, and Lautner was with Lourd during the most hard time in her life. It was with Carrie Fisher that Billie had her first taste of professional acting.

    Technicals Under Review For Shares of Champion Real Estate Investment Trust

    Their average price target spell out an upbeat performance - a 23% and would give PEI a market capitalization of almost $878.66M. Morgan Stanley grew its position in shares of Pennsylvania Real Estate Investment Trust by 667.8% during the first quarter.
    WhatsApp begins testing 'Delete for Everyone' feature

    WhatsApp begins testing 'Delete for Everyone' feature

    And prior to that, in June, a leaked WhatsApp code revealed that the messaging giant was testing the feature. The " Delete for everyone " feature enables users to wipe out messages before their contacts have read them.
  • Peru Also Expels North Korean Ambassador

    Peru Also Expels North Korean Ambassador

    It followed up with a sixth nuclear test on September 3, its largest to date, which it said was a miniaturised hydrogen bomb. Pyongyang has staged a series of missile tests in recent months that appeared to bring much of the U.S. mainland into range.
    Gulf Power Among Utilities Sending Help To South Florida

    Gulf Power Among Utilities Sending Help To South Florida

    The news is an improvement from Gould's estimate on Monday that it would take weeks. Gould said the bottom line is FPL wants everyone "to be safe and patient.
    WhatsApp co-founder Brian Acton leaves company; Here is what he said

    WhatsApp co-founder Brian Acton leaves company; Here is what he said

    Brian Acton , the co-founder of the much used instant messaging app WhatsApp has made a decision to leave the company. Acton is one of the key players behind the messaging app's wide and consistent success housing over a Billion users.