Oct 15, 2019

Reaction to October Crop Report decrease in 2019 U.S. Soy Yield

Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.

The USDA moved in the right direction by lowering the 2019 U.S. soybean yield 1.0 bu/ac to 46.9 bu/ac in the October Crop Report. Additionally, the impact of the recent winter storm on crop production in the northwestern Corn Belt was not taken into account in this report. The heavy snow and winds are going to cause damage to both crops and the season-ending freeze will keep some of the latest developing crops from reaching complete maturity. Therefore, I think the production estimates for both corn and soybeans in the November Crop Report will be lower than in the October Crop Report.

Reaction to the October 2019 U.S. Soybean Production from USDA - The USDA lowered the soybean production from 3.63 billion bushels in September to 3.55 billion bushels in October. They lowered the soybean yield 1.0 bushel to 46.9 bushels per acre. They lowered the planted acreage 243,000 acres to 76.4 million. They lowered the harvested acreage 240,000 acres to 75.6 million. They trimmed the percent harvested from 98.9% in September to 98.8% in October.

Take away: