November 2, 2007

FC Stone releases estimates for US corn and soy crop

FC Stone pegged the 2007-08 US corn crop at 13.240 billion bushels on Thursday and the soy crop at 2.651 billion bushels.

FC Stone is a commodity risk management consultancy specialising in the agricultural and energy markets.

The company estimated corn yield at 153.8 bushels per acre and soy yield at 42.2 bushels per acre.

The USDA, in its October supply and demand report, estimated 2007-08 US corn production at 13.318 billion bushels, with a yield of 154.7 bushels per acre. The USDA put the soy crop at 2.598 billion bushels, with a yield of 41.4 bushels per acre.

The USDA is scheduled to release updates on US corn and soy estimates on Nov. 9.

In 2006, US corn production was 10.535 billion bushels, with a yield of 149.1 bushels per acre, according to the USDA. Soy production was 3.188 billion bushels, with a yield of 42.7 bushels.