Aug 17, 2021
Reaction to the 2021 U.S. August Crop Report
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The estimates released by the USDA in the August Crop Report were significantly below what the market had expected for corn and slightly below what the market had expected for soybeans. The corn yield was 4.9 bu/ac below trend and the soybeans were 0.8 bu/ac below trend.
- 2021 U.S. corn planted acreage of 92.7 million acres (unchanged from June Planted Report).
- 2021 U.S. corn harvested acreage of 84.5 million acres (unchanged from June Planted Report).
- 2021 U.S. corn yield of 174.6 bu/ac (compares to 179.5 bu/ac in July).
- 2021 U.S. corn production of 14.75 billion bushels (compares to 15.16 billion bushels in July).
- 2021 U.S. soybean planted acreage of 87.6 million acres (unchanged from June Planted Report).
- 2021 U.S. soybean harvested acreage of 86.7 million acres (unchanged from June Planted Report).
- 2021 U.S. soybean yield of 50.0 bu/ac (compares to 50.8 bu/ac in July).
- 2021 U.S. soybean production of 4.33 billion bushels (compares to 4.40 billion bushels in July).
Good weather thus far this summer in the eastern Corn Belt has led to estimated record corn yields in Illinois, Indiana, Ohio, Michigan, and Pennsylvania. For soybeans, record yields were estimated for Illinois, Indiana, Ohio, Mississippi, and Missouri.
I think the corn yields in North Dakota and Minnesota might be rated too low. The corn yields in the eastern Corn Belt are already record high, so they may not increase much going forward. In fact, the corn yield in Illinois may be a little too high due to extensive wind damage last week across parts of northern Illinois. For soybeans, the estimates may have been too low for North Dakota and maybe Minnesota.
|State||2021 U.S. August Corn Yield||State||2021 U.S. August Soybeans Yield|
|South Dakota||133||North Carolina||39|
|North Dakota||106||North Dakota||24|
*Denotes Record yield
Source - 2021 USDA August Crop Report