Market News & Headlines >> USDA Seen Raising Corn, Soy Crops Again
USDA is expected to raise its estimates of the 2021 U.S. corn and soybean crops for the third straight month on Tuesday when it releases its monthly Crop Production report.
Trade estimates of U.S. soybean production average 4.844 billion bushels, 36 million above USDA’s October estimate of 4.448 million bushels in a range from 4.442-4.536 million bushels, according to a Reuters News Service survey of 20 analysts.
Pre-report estimates of the U.S. soybean yield average 51.9 bushels per acre in a range from 51.5-52.5 bushels compared with USDA’s October estimate of 51.5 bushels.
Trade expectations for U.S. corn production average 15.050 billion bushels, 31 million above USDA’s October estimate of 15.019 billion bushels in a range from 14.957-15.148 billion.
Pre-report estimates of the U.S. corn yield average 176.9 bushels per acre in a range from 175.9-178.0 bushels compared with USDA’s October estimate of 176.5 bushels.