In a surprise move for so late in the season, USDA raised its corn yield forecast by nearly 2 bu. per acre in the November Crop Production Report. With a larger crop currently being harvested across the U.S., it means estimated corn ending stocks is getting even bigger, but analysts say the increase wasn’t as big as it could have been since USDA also boosted demand.
USDA-NASS made adjustments across the board, upping the yield forecast for corn, soybeans and cotton in the November report.
Corn yield: 174.9 bu. per acre, up 1.9 bu. per acre from October
Soybean yield: 49.9 bu. per acre, up 0.3 bu. per acre from October
Cotton yield: 783 pounds per acre, up 16 pounds per acre from October
By TYNE MORGAN
November 9, 2023
agweb.com
