USDA crop report preview

USDA will issue its August 1 crop production report and monthly supply-demand update on Friday, Aug. 10 at 7:30 a.m. CDT.

Compiled by staff

Published: Aug 8, 2012

Analysts expect the USDA on Friday to cut its forecasts for US corn production this year by 15% to 10.97 billion bushels and for soybeans by 9% to 2.79 billion bushels, a Dow Jones poll shows. Analysts expect the production shortfalls to take corn inventories at the end of the 2012-13 marketing year to their lowest level since the 1995-96 year, and soybean inventories to their lowest since 2003-04, according to the poll.

The following are analysts' estimates in billions of bushels for 2012 corn and soybean production based on conditions as of August 1. Yield estimates are in bushels per acre.

Crop Production

Average Range USDA Jly USDA 2011

Corn 10.971 9.860-11.750 12.970 12.358

Corn Yield 126.2 117.6-134.0 146.0 147.2

Soybeans 2.786 2.400-2.925 3.050 3.056

Soy Yield 37.2 32.0-39.0 40.5 41.5

2011-12 Ending Stocks

Average Range USDA Jly USDA 2010-11

Corn 0.945 0.750-1.183 0.903 1.128

Soybeans 0.157 0.138-0.200 0.170 0.215

2012-13 Ending Stocks

Average Range USDA Jly

Corn 0.651 0.400-0.850 1.183

Soybeans 0.115 0.095-0.140 0.130

Wheat 0.681 0.600-0.718 0.664

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