Ahead of next week’s USDA report, Allendale is projecting the U.S. corn crop at 13.75 billion bushels, with a yield of 167.7 bushels/acre. Their soybean crop estimate is 3.49 billion bushels, with a 46 bushel/acre yield. That’s below USDA’s August crop forecast. According to Allendale’s producer survey, there will be a lower corn yield for Minnesota, North Dakota and South Dakota compared to the USDA estimate, with a range of 141 to 169 bushels an acre. The estimate for the South Dakota soybean crop is significantly lower than the USDA forecast. Allendale is estimating the crop at 37 bushels an acre compared to 45 bushels an acre from USDA. The Minnesota and North Dakota soybean yields are projected at 44 and 36 bushels an acre.
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