Barchart released its October production forecast Tuesday (Oct. 6, 2020), estimating a corn yield decrease compared to the September forecast. The company estimates corn production at 15.1 billion bushels, with a season yield of 178.2 bushels per acre. The data represents a decrease in expected yield for corn, relative to the September report, which predicted end of season yield at 178.4 bushels per acre.
For soybeans, Barchart estimates production at 4.1 billion bushels, with a season yield of 50.5 bushels per acre. End of season yield for soybeans remains the same at 50.5 bushels per acre.
Available to the public on the first Tuesday of each month during the growing season, the Crop Production and Yield Forecasts provide quick projections before the Department of Agriculture’s World Agricultural Supply and Demand report. In September, USDA projected a corn crop of 14.9 billion bushels, and a soybean crop of 4.3 billion bushels. USDA will release the next monthly WASDE report Friday.
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