Crop Production Estimates Increased for Three Major Midwest Crops

USDA this week boosted its production estimates for the top three crops grown in Illinois and around the Midwest.

Increases in U.S. corn and soybean production, up 110 million and 80 million bushels, respectively, were expected due to larger acreage numbers reported by USDA on June 30.

USDA subsequently boosted ending stocks by 73 million bushels for corn and 30 million bushels of beans.

The boost in production was counterbalanced by an increase in demand for both crops. USDA raised corn exports by 100 million bushels and soybean exports by 35 million bushels.

Wheat production estimates increased this week largely as a result of excellent production. USDA pegged the winter wheat yield at a national record of 53.9 bushels per acre. In Illinois, the average wheat yield came in at 75 bushels per acre, smashing the previous record, 67 bushels, and last month’s estimate of 68 bushels.