Based on Nov. 1, 2022, conditions, South Dakota’s 2022 corn crop is forecast at 656 million bushels, down 11% from last year’s production, according to the USDA’s National Agricultural Statistics Service. Acreage harvested for grain is estimated at 5.25 million acres, down 4% from a year ago. Average yield is forecast at 125 bushels per acre, down 9 bushels from last year.
Soybean production is forecast at 197 million bushels, down 9% from last year. Area for harvest, at 5.05 million acres, is down 6% from 2021. Yield is forecast at 39 bushels per acre, down 1 bushel from last year.
Sorghum for grain production is forecast at 15.6 million bushels, up 16% from last year. Area for harvest, at 205,000 acres, is down 2% from 2021. Yield is forecast at 76 bushels per acre, up 12 bushels from last year.
Nationally……
USDA released the November World Agriculture Supply and Demand report yesterday (Nov. 9, 2022). This month’s 2022/23 U.S. corn outlook is for higher production, larger feed and residual use, and greater ending stocks. Corn production is forecast at 13.930 billion bushels, up 35 million from last month, on a 0.4-bushel increase in yield to 172.3 bushels per acre. The season-average corn price received by producers was unchanged at $6.80 per bushel.
The soybean outlook for 2022/23 increased production, crush, and ending stocks. Soybean production is forecast at 4.35 billion bushels, up 33 million on higher yields. Higher yields in Iowa and Missouri account for most of the change in production. The season-average soybean price for 2022/23 is forecast at $14.00 per bushel, unchanged from last month. And the outlook for 2022/23 wheat this month shows stable supplies, increased domestic use, unchanged exports, and slightly lower ending stocks. The projected 2022/23 season-average farm price was unchanged at $9.20 per bushel.
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