The 2012 Illinois corn crop is expected to yield 116 bushels per acre, down 41 bushels from last year’s yield. If realized, this would be the lowest Illinois corn yield since 1995. Acres harvested for grain were estimated at 12.6 million. This is a 200,000 acre decrease from the June Acreage Report as a result of abandonment and silage chopping. Production of corn for grain would be 1.462 billion bushels, down 25 percent from 2011. As of July 29, 18 percent of the crop was in the dent stage, compared to 2 percent last year and 4 percent for the five-year average. There were also reports of some acreage being ready to harvest. Corn condition was rated 5 percent good, 24 percent fair, 33 percent poor, and 38 percent very poor.
The 2012 soybean crop in Illinois is expected to yield 37 bushels per acre, 10 bushels below last year’s yield of 47, and the lowest yield since 2003, which was also 37. Total production for the state is forecast at 309 million bushels, which is 26 percent below last year’s production. If realized, this will be the lowest soybean production since 1988. As of July 29, 95 percent of the crop was blooming and 61 percent was setting pods, compared to 75 percent and 36 percent normally. The crop was rated 9 percent good, 35 percent fair, 29 percent poor, and 27 percent very poor. Acreage for harvest was lowered from the June forecast of 8.57 million acres down to 8.35 million acres.
Editor's note: We have audio from this morning's Minneapolis Grain Exchange teleconference on the impact of today's reports.