USDA Crop Report Shows Harvest Ahead Of 2016

Crop Production Report for Nebraska & Kansas

US/Indiana Corn Supply Mostly Unchanged in Latest USDA Report

Yield is forecast at 181 bushels per acre, up 3 bushels from previous year.

And the condition of the crop, more fair and good this year with 12% of the crop as described as excellent compared to 20% last year. Corn firmed despite the USDA raising its U.S. corn yield estimate to 171.8 bpa, above even the highest in a range of trade estimates.

Indiana's alfalfa hay yield is forecast at 4.30 tons per acre, up 0.1 tons from a year ago.

China's agriculture ministry lowered its estimate of the country's 2017/18 corn crop to 210.1 million tonnes, from 212.48 million last month, citing smaller-than-expected plantings. Area for harvest, at 150,000 acres, is down 14 percent from 2016. All sunflower yield is expected to average 1,295 pounds per acre, up 2 pounds per acre from past year. The October yield forecast, at 1,339 pounds per acre, is 392 pounds lower than last year's record high yield and will be the lowest since 2006, if realized. Area harvested for grain is forecast at 5.05 million acres, down 5 percent from the previous forecast and down 18 percent from a year ago.

Soybean stockpiles at the end of the marketing year on August 31, 2018, were pegged at 430 million bushels, well below the average estimate of 452 million and the prior month's 475 million. Based on October 1 conditions, yields are expected to average 49.5 bushels per acre, down 0.4 bushel from last month and down 2.5 bushels from past year. Area for harvest, at 5.65 million acres, is 10 percent above 2016.

Along with the unexpectedly low inventories outlook, the USDA lowered its yield forecast for soybeans. Area for harvest, at 1.70 million acres, is unchanged from a year ago. Soy meal added 20¢ to $326.50 a short ton, and soy oil increased 0.41¢ to 33.69¢ a pound.

Dry bean production for 2017 is forecast at 1.12 million hundredweight, up 49 percent from the 751,000 hundredweight produced a year earlier.

Sugarbeet production is forecast at 1.43 million tons, up 1 percent from 2016. Area for harvest, at 650,000 acres, is down 7 percent from a year ago. Record yield is forecast at 32.1 tons per acre, up 2.2 tons per acre from a year ago. All Other Hay production, at 2.96 million tons, is down 8 percent from a year ago.

Traders expect the agency to raise its estimate of the USA corn harvest in the reports. The average United States yield is forecast at 1,737 pounds per acre, a decrease of 105 pounds from 2016. Lower planted acres likely reflects more accurate accounting of spring weather difficulties.

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