Market News & Headlines >> Crop Numbers Seen Changing Little

The grain trade expects to see little change in USDA’s 2017 corn and soybean production numbers when the Department releases its annual Crop Summary report on Friday.

Trade estimates of U.S. corn production average 14.580 billion bushels, just 2 million bushels above USDA’s November estimate, in a range from 14.434-14.750 billion bushels, according to a Bloomberg news survey of 30 analysts.  Pre-report estimates of the U.S. corn yield average 175.4 bushels per acre, unchanged from USDA’s November forecast, in a range from 173.7-177.0 bushels per acre.

Trade expectations for U.S. soybean production average 4.430 billion bushels, 5 million above USDA’s November estimate, in a range from 4.385-4.475 billion. Estimates of the U.S. soybean yield average 49.5 bushels per acre, unchanged from USDA’s November forecast, in a range from 49.0-50.0 bushels.