U.S.D.A. raises 2009 soybean, corn crop forecasts
October 09, 2009
by FoodBusinessNews.net Staff
WASHINGTON — The U.S. Department of Agriculture in its October Crop Production report forecast 2009 U.S. soybean production at 3,250 million bus, up slightly from 3,245 million bus forecast in September, up 10% from 2,967 million bus in 2008 and the largest on record.
Corn production in 2009 was forecast at 13,018 million bus, up slightly from 12,955 million bus forecast in September, up 8% from 12,101 million bus last year and the second largest ever behind the 2007 crop.
The U.S.D.A. soybean forecast was slightly below the average of pre-report trade estimates while the corn forecast was slightly above the average estimate.
The average soybean yield based on Oct. 1 conditions was forecast at 42.4 bus an acre, up 0.1 bus from September, up 2.7 bus from last year and the third highest on record if realized, the U.S.D.A. said. Area for harvest was forecast at 76.6 million acres, down slightly from September but up 3% from 2008.
Corn yield was forecast to average 164.2 bus an acre, up 2.3 bus from last month, up 10.3 bus from last year and the highest on record if realized, the U.S.D.A. said. Harvest area was forecast at 79.3 million acres, down 1% from September but up 1% from 2008.