More firms expect a sub-trendline corn yield

IHS Markit Agribusiness (formerly IEG Vantage) projects the U.S. will produce a 14.911 billion bu. corn crop with an average yield of 176.5 bu. per acre, based on the firm’s survey work. Linn & Associates today estimated the U.S. corn crop at 14.794 billion bu. on a national average yield of 176.16 bu. per acre. Earlier this week, StoneX projected the U.S. would produce a 14.945 billion bu. crop on an average yield of 176.9 bu. per acre. USDA in July projected a 15.165 billion bu. crop on a trendline yield forecast of 179.5 bu. per acre.

The U.S. soybean crop will likely yield an average of 51.5 bu. per acre for a 4.464 billion bu. crop, says IHS Markit. Linn & Associates estimates the soybean crop at 4.284 billion bu. on a yield of 49.5 bu. per acre. Yesterday, StoneX pegged the U.S. soybean crop at 4.332 billion bu. on an average yield of 50.0 bu. per acre. USDA’s trendline yield forecast of 50.8 bu. per acre projects to a 4.405 billion bu. crop.

USDA’s first survey-based corn and soybean production estimates will come Aug. 12.