WASHINGTON — U.S. 2015 corn production was forecast at 13,555 million bus, down 30 million bus from 13,585 million bus forecast in September and down 5% from a record 14,216 million bus in 2014, the U.S. Department of Agriculture said in its Oct. 9 Crop Production report. Soybean production was forecast at 3,888 million bus, down 47 million bus, or 1%, from 3,935 million bus forecast in September and down 1% from 3,927 million bus last year.
The U.S.D.A. corn number was above the average pre-report trade estimate of 13,461 million bus. The soybean number was slightly above the pre-report average of about 3,884 million bus.
Corn futures traded slightly lower after the report but soybean futures advanced.
Based on Oct. 1 conditions, corn yield was forecast at 168 bus an acre, up from 167.5 bus forecast in September but down 3 bus from 171 bus an acre in 2014, the U.S.D.A. said. Harvested area was forecast at 80,664,000 acres, down slightly from 81,101,000 acres forecast in September and down 3% from 2014.
Soybean yield was forecast at 47.2 bus an acre, up from 47.1 bus forecast in September but down from 47.5 bus an acre in 2014. Harvested area was forecast at 82,429,000 acres, down 1% from 83,549,000 acres forecast in September and down slightly from last year.The U.S.D.A. corn yield number was above the average trade forecast of 166.4 bus an acre, and the soybean number also was above the trade average estimate of 46.9 bus an acre.