November 2, 2004

FCStone Pegs 2004-05 US Corn Crop At 11.573 Billion Bushels

The 2004-05 US corn crop is now forecast at 11.573 billion bushels and the US soybean crop at 3.118 billion bushels, according to FCStone, a commodity brokerage firm in West Des Moines, Iowa.

FCStone now forecasts the 2004-05 US corn yield at 157.9 bushels per acre and the average US soybean yield at 42.1 bushels/acre.

The present US Department of Agriculture forecast of the 2004-05 US corn crop stands at 11.613 billion bushels with a yield of 158.4 bushels/acre, and US soybean output 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 on November 12.

In early October, FCStone projected the 2004 US corn crop at 11.156 billion bushels and US soybean production at 3.057 billion bushels.

Last year, the US produced 10.114 billion bushels of corn and a soybean crop of 2.454 billion bushels.