Record Yields Forecast

USDA forecasts the corn crop at 16.75 billion bushels, down from the previous estimate of 16.8 billion bushels. Despite the slight decline, the would still be a record large corn crop. Corn yields were put at 186 bushels per acre, down from 186.7 bushels per acre in the September report. The previous record yield was just over 179 bushels per acre. The World Agricultural Supply and Demand Estimates projects the average soybean yield at 53 bushels per acre, slightly below the previous estimate, but above the 2016 record yield of 51.9 bushels per acre. USDA raised the wheat yield by a half-bushel an acre at 53.3 bushels per acre. Due to the government shutdown, USDA said some data sources typically used when compiling this report were not available.