Consultant Raises Soybean Crop Peg as Yields Reports Remain Impressive

Posted on 03/09/2017 10:20 AM

Crop consultant Dr. Michael Cordonnier has raised his U.S. soybean yield by 0.5 bu. per acre from last week to 51.5 bu. per acre. This resulted in a 40-million-bu. increase in his crop estimate to 4.27 billion bushels. He has a neutral to higher bias going forward due to "outstanding" yield reports as harvest progresses.

"Many farmers are reporting that their soybeans may be the best they have ever grown. Even double-crop soybeans in the southern locations are also doing extremely well. The abundant moisture during August is resulting in very large soybeans and very high soybean yields," says Cordonnier, noting that he may increase the yield by another 0.5 bu. per acre next week. "I continue to feel that the soybeans will outperform the corn this year. It is going to be a record high soybean yield, it's just a matter of high it can go. I also increased the maximum for the crop as well to 53.0 bu. per acre."

Cordonnier 2016 estimates
Harvested acreage
Avg. yield
Production
million
bu. per acre
billion bu.
Corn
86.5
172.0
14.87
Soybeans
83.0
51.5
4.27


Meanwhile, Cordonnier left his corn yield peg unchanged at 172 bu. per acre and says he has a neutral to slightly lower bias going forward. "The corn yield reports are improving as we get deeper in the harvest," he notes. "Apparently the first maturing corn was more impacted by the high daytime and nighttime temperatures earlier this summer and by the foliar diseases that may have cut short the grain filling process."


 

"

Add new comment