Jul 07, 2021 3:24 PM

Barchart increases U.S. Crop Production forecast

Posted Jul 07, 2021 3:24 PM

Barchart Tuesday raised their July 2021 Yield and Production forecasts for U.S. corn and soybeans. Released on the first Tuesday of each month during the growing season, the forecasts offer users insights to help their crop marketing and business decisions ahead of when traditional government reports are released.

U.S. Corn Production is projected at 14.6 billion bushels with a yield of 176.5 bushels an acre, compared to USDA projection of 15 billion bushels and yield of 179.5.

For soybeans, Barchart expects production at 4.3 billion bushes with a 50 bushel per acre yield. USDA forecasts 4.4-billion-bushel production of soybeans this year with yield at 50.8 bushels.

The market data company also released their initial Yield and Production forecasts for Canadian spring wheat and soybeans. Canadian spring wheat production is forecasted at 881 million bushels, with yield at 55.1 an acre. Barchart’s Canadian soybean production forecast calls for 228.1 million bushels with an average yield of 43 bushels an acre.