In the May USDA’s Crop Production report, the 2019/20 U.S. wheat crop is projected at 1.89 million bushels, an increase of less than one percent from a year ago. The all-wheat yield is projected at 48.6 bushels per acre, an increase of one bushel from last year. The U.S. corn crop is projected at 15 billion bushels, an increase from last year and the second largest on record behind 2016/17. USDA is projecting a corn yield of 176 bushels/acre. The U.S. soybean crop is projected at 4.15 million bushels, down 394 million from last year’s record crop.
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