Spencer, IA: Private analytical firm Informa Economics expects USDA to forecast corn production this year at 14.14 billion bushels in next Monday’s August Production report.
Even though this year’s corn development has been running behind normal, condition ratings have been above average. Informa expects USDA to predict a yield forecast of 158.6 bpa, 35.2 bpa higher than last year.
The soybean data will incorporate USDA’s re-survey of planted acreage in 14 states due to planting delays. Informa expects harvested acreage to be trimmed by 500-thousand acres, largely in Iowa, Wisconsin, Missouri, and North Dakota. Still, Informa thinks USDA will project soybean production at 3.26 bbu, 251 million bushels more than last season.
DTN Senior Analyst Darin Newsom said it is important to remember that these are Informa’s guess as to what USDA’s projections will be, not necessarily what Informa thinks. The report will be released at 11:00 a.m. next Monday.