August 12, 2011
USDA slices US 2011-12 corn, soy yield
The USDA sliced on Thursday (Aug 11) the US 2011-12 (Sept/Aug) corn output to 12.914 billion bushels, compared with an average trade estimate for 13.082 billion bushels.
In its August supply-demand report, the USDA forecast the corn yield at 153 bushels per acre, compared with trade expectations for 155.6 bushels per acre.
For soy, the department pegged production this year at 3.056 billion bushels, compared with an average of trade estimates for 3.187 billion bushels. Yield was forecast at 41.4 bushels per acre, versus estimates for 42.8 bushels.
The USDA forecast US wheat production at 2.077 billion bushels, compared with trade estimates for 2.079 billion.
Spring wheat production, excluding durum, was forecast at 522 million bushels, compared with expectations for 541 million. Durum production was forecast by the USDA at 57.1 million bushels versus expectations for 61 million bushels.