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Corn Crop Estimate Tops 11 Billion Bushels

posted on November 4, 2005


High energy costs, low prices, and transportation problems have led an increasing number of farmers to field dry their corn this year. The practice saves money in grain drying costs, but some agronomists are warning against the possibility of reduced yield for crops left standing in the field for too long.

Reduced yield apparently is not a concern in the broader grain trade, which continues to boost crop estimates for both corn and soybeans.

 

Corn Crop Estimate Tops 11 Billion Bushels

The 2005 harvest still is going strong as industry analysts released their crop estimates for November.

Informa Economics predicts a corn harvest at just under 11 billion bushels  at 10.979 billion bushels, based on its estimated yield of 147.7 bushels per acre.

The estimate for corn from FCStone is at 11.079 billion bushels, using an average yield of 149 bushels per acre. Some analysts view this number as slightly bearish, as it is only a one percent increase over the company's October estimate.

Estimating a yield of 42.8 bushels per acre, Informa projects a 3.053 billion bushel soybean crop. The estimate is up 1.8% from its October report. FCStone's estimate is just a bit higher, at 3.064 billion bushels ... but it was nearly one-and-a-half percent below last month's estimate. Some analysts say this could imply a possible drop to 2.928 billion bushels by the USDA.

The USDA releases its crop numbers next week. After the market digests the numbers, the focus will shift to the South American crops.

 


Tags: agriculture corn crops industry markets news USDA