Barchart, has released its first Crop Production and Yield Forecast of the season. These forecasts are meant to help fill the gap between the monthly World Agricultural Supply and Demand Estimates (WASDE) report created by the USDA.
“We’re thrilled to kick off the 2022 growing season by offering commodity professionals access to our estimates for U.S. corn and soybeans,” said Barchart CEO Mark Haraburda.
“This has been somewhat of an unprecedented year for the commodity markets so we’re proud to be able to provide users with as much information as possible for their crop marketing decisions.”
Yield and production take dip
This addition of Barchart’s forecast shows average yield and overall production dipping for both corn and soybeans versus the May WASDE report.
- Overall corn production will be 300 million bushels lower for a total of 14.2 billion bushels
- The overall corn yield averages were lowered by 3 bushels/acre to a 174 bushels/acre average
- Soybean production has been lowered to 4.4 billion bushels, 200 million less than the May WASDE
- Soybean yield averages have also been reduced to 49.5 bushels/acre, down 2 bushels/acre
