Thursday, October 11, 2012

Pre-Report Update

The biggest change over the last several weeks has been the improved soybean crop conditions. My soybean yields have moved up 1 bushel/ac since the last USDA report.

Soybean Yield:  38.7 bu/ac
Soybean Production: 2,885 million bushels
latest USDA Production = 2,634

Corn and cotton are mostly unchanged. Corn has been flat and continues to be off by quite a bit given the estimate of absolute vs. percent deviations. The big news will be acreage and adjustments to harvested area in the report. 

Cotton, I'm closer on production and the individual components are always a problem, but I've moved up slightly or been mostly flat while USDA moved production down. 

Corn Yield:  140.2 bu/ac
Corn Production:  11,977 million bushels
latest USDA Production: 10,727 million bushels 

Cotton Yield:  844 lbs/ac
Cotton Production 17.919 million bales 
latest USDA Production = 17.110 million bales

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