Aug 18, 2022
2022 U.S. Corn Yield Lowered 1.0 bu/ac to 173.0 bu/ac
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The 2022 U.S. corn yield was lowered 1.0 bu/ac this week to 173.0 bu/ac and I have a neutral to lower bias going forward.
The data used for the August Crop Report was approximately two weeks old by the time the report was released last Friday. The corn condition declined during the first two weeks of August, so I decided to trim the corn yield a little more. The forecast is now more favorable and if the forecast verifies, it might help to stabilize the corn crop.
The USDA lowered the harvested acreage 100,000 acres, but that was all due to the planted acreage being lowered 100,000 in Minnesota. The percent of the corn harvested for grain was left essentially unchanged at 91.0%. I think that might be a little too high because some additional corn will be chopped for silage and there may be some additional abandonment. Therefore, I am going to reduce the USDA's harvested acreage by 500,000 acres to 81.35 million.
The total U.S. corn crop is now estimated at 14.07 billion bushels (81.35 million acres x 173.0 bu/ac)
The rainfall last week and over the weekend favored the northern and eastern Midwest while dry conditions prevailed in most of the western Corn Belt. Rain is expected this week in parts of the western Corn Belt along with cooler temperatures. There were some very beneficial rains across northeastern Nebraska and western Iowa on Monday and in Missouri on Tuesday. The cooler temperatures over the next ten days will help to extend the soil moisture and lower any moisture stress on the corn.
The condition of the 2022 U.S. corn crop declined 1% last week to 57% rated good/excellent. The corn is 94% silking compared to 98% last year and 97% average. The corn is 62% dough compared to 71% last year and 65% average. The corn is 16% dent compared to 20% last year and 20% average.