Sep 13, 2021

Reaction to September 2021 Crop Report

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

The USDA corn harvested acreage of 85.08 mac is slightly higher than the 84.9 mac I have been using, so I am now going to use a harvested acreage of 85.0 mac. The USDA corn yield of 176.3 bu/ac is 0.8 bu/ac above my estimate of 175.5 bu/ac. The weather during September is not turning out quite as good as what we thought several weeks ago. The warmer and dryer conditions during the first half of September are going to push along the corn maturity probably faster than you would like to see. Therefore, I am now going to use a corn yield of 176.0 and a corn production of 14.96 billion bushels.

The USDA soybean harvested acreage of 86.43 mac is 270,000 below my estimate. I don't think they will find any more soybean acres, so I am now going to use their harvested acreage of 86.43 mac. The USDA soybean yield of 50.6 bu/ac is 0.6 bu/ac above my estimate of 50.0 bu/ac. I am going to split the difference between our two yield estimates and use a soybean yield of 50.3 bu/ac. Therefore, the soybean production is now estimated at 4.34 billion bushels.