USDA September Crop Report

USDA lowered soybean yield, but raised corn yield from August report. In Illinois, average corn yield dropped six bushels to 110, while soybean yield was left unchanged at 37 bushels per acre.

Compiled by staff

Published: Sep 12, 2012

Editor's note: We have audio comments from Jonah Ford of Ceres Hedge from this morning's MGEX teleconference.

Corn production is forecast at 10.7 billion bushels, down less than 1 percent from the August forecast and down 13 percent from 2011. This represents the lowest production in the United States since 2006. Based on conditions as of September 1, yields are expected to average 122.8 bushels per acre, down 0.6 bushel from the August forecast and 24.4 bushels below the 2011 average. If realized, this will be the lowest average yield since 1995. Area harvested for grain is forecast at 87.4 million acres, unchanged from the August forecast but up 4 percent from 2011.

Soybean production is forecast at 2.63 billion bushels, down 2 percent from August and down 14 percent from last year. Based on September 1 conditions, yields are expected to average 35.3 bushels per acre, down 0.8 bushel from last month and down 6.2 bushels from last year. Compared with last month, yield forecasts are lower or unchanged across the Great Plains and most of the Corn Belt as lingering drought conditions continued to hamper yield expectations. Area for harvest in the United States is forecast at 74.6 million acres, unchanged from August but up 1 percent from last year.

Here are the numbers from Wednesday's USDA reports. Production is in billion bushels; yield in bushels per acre.

Crop Production

USDA Sep 1 Trade Avg Range USDA Aug 1

Corn 10.727 10.403 9.860-10.779 10.779

Yield 122.8 120.6 117.6-123.4 123.4

Soybeans 2.634 2.638 2.400-2.739 2.692

Yield 35.3 35.5 32.0-36.7 36.1

2012 Ending Stocks

USDA Sep 1 Trade Avg Range USDA Aug 1

Corn 1.181 1.014 0.750-1.176 0.650

Soybeans 0.130 0.137 0.095-0.173 0.145

2013 Ending Stocks

USDA Sep 1 Trade Avg Range USDA Aug 1

Corn 0.733 0.618 0.506-0.750 0.650

Soybeans 0.115 0.106 0.087-0.117 0.115

Wheat 0.618 0.709 0.670-0.797 0.698

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