Barchart, an agricultural data service and technology provider, released its October 2021 Yield and Production forecasts for U.S. and Canadian field crops.
The latest report indicates a decrease in U.S. crop production for corn, soybeans, and hard red winter wheat and a decrease in Canadian production forecasts for spring wheat and soybeans.
U.S. corn production is forecasted at 15.3 bushels with a yield of 182.3 bushels per acre, compared to last month's 183.4 and USDA’s forecast of 15.0 billion bushels of production and a yield of 176.3 bushels per acre.
Barchart pegs U.S. soybean production at 4.4 billion bushels on an average yield of 51.3 bushels per acre compared to last month's 51.6, similar to USDA’s forecast with a slightly higher yield.
The company projects U.S. Hard Red Winter Wheat yields at 45.5 bushels per acre. Meanwhile, Canadian Spring Wheat production is pegged at 746.5 million bushels, and soybeans at 223.1 million bushels, with a 40.0 bushels per acre yield.