November 3, 2004

Linn Group Pegs US 2004-05 Corn Output at 11.678 Billion Bushels

The Linn Group now estimates the US 2004 US corn crop at 11.678 billion bushels and soybean output at 3.149 billion.

The organization is a Chicago based research, consulting, and executing firm.

The forecasts are based on an average yield of 159.2 bushels per acre for corn and 41.6 bushels per acre for soybeans.

The Linn Group said the estimates are based on yield reports and harvest progress from the field.

"Yields of corn and beans continued to improve as harvest moved north through some of the questionable late crop areas where frost did minimal damage to the crops," The Linn Group said in the release.

The US Department of Agriculture currently forecasts the 2004-05 US corn crop at 11.613 billion bushels with a yield of 158.4 bushels/acre. US soybean output is estimated at 3.107 billion bushels with a yield of 42.0 bushels/acre.

The USDA is scheduled to update its production forecasts for the 2004-05 corn and soybean crops Nov. 12.

The US produced 10.114 billion bushels of corn and a soybean crop of 2.454 billion bushels last year.