Lower US corn, soy harvests in 2008

 

 

The US Department of Agriculture's crop summary on Monday (January 12) revealed lower crop harvests for soy and corn in 2008.

 

In Iowa, corn production was estimated at 2.19 billion bushels, up 2 percent from the November 1 forecast but down 8 percent from 2007. The state's producers averaged 171 bushels per acre, down 1 bushel from the forecast, but equal to last year.

 

Corn area harvested went up by 300,000 acres from the previous forecast to 12.8 million acres, 8 percent below 2007. Corn planted for all purposes in Iowa, at 13.3 million acres, however, was down 6 percent from 2007.

 

Iowa soy production was estimated at 445 million bushels in 2008, up 3.22 million bushels from the November 1 forecast but down 1 percent from the previous year. Iowa's producers averaged 46 bushels per acre, unchanged from November 1 but six bushels lower than last year's yield per acre.

 

The harvested acreage of 9.67 million acres rose 12 percent from the 2007 estimate. The planted acreage of soy, at 9.75 million acres, is 13 percent above 2007.

 

Nationally, corn producers are expected to harvest 12.1 billion bushels, up 1 percent from the November 1 forecast but 7 percent below last year's record high. The average US grain yield is estimated at 153.9 bushels per acre, up 0.1 bushel from the November forecast and 3.2 bushels above 2007.

 

The 2008 corn yield is the second-highest on record, behind 2004, and production is second-largest, behind last year.

 

Soy production in 2008 totalled 2.96 billion bushels, up 1 percent from the November 1 forecast and up 11 percent from 2007.

 

US soy production is the fourth-largest on record with average yield per acre estimated at 39.6 bushels, 0.3 bushel above the November forecast but 2.1 bushels below last year's yield.

 

The harvested area for soy is up 16 percent from 2007, to a record 74.6 million acres.

 

John Heisdorffer, a soy grower from Keota and president of the Iowa Soybean Association, said farmers should not be surprised by the harvest projections.

 

Heisdorffer also said that while figures in the crop report are higher than previously estimated, the demand continues to be strong, particularly in exports with China as the biggest customer. Drought in South America are also causing global supply concerns, hence, more opportunities in the foreign market, he added.