Mixed reaction to USDA report

There was mixed reaction to Monday’s Aug. 12 USDA report with corn initially up and soybeans and wheat down.

Soybean yield was at 53.2 bushels per acre with the trade expecting 52.5. Corn yield was 183.1 compared to the trade guess of 182.1. Soybean harvested acres were at 86.3 million versus the trade guess of 85.110. Corn was 82.7 compared to the estimate of 82.967 million.

Corn ending stocks for 2024-2025 came in lower at 2.073 billion compared to the trade guess of 2.096. Soybeans were 506 million bushels compared to the 465 million the trade predicted. Wheat was at 828 million bushels compared to the anticipated 862 million.

The following information was released when it comes to Illinois Crop Production:

Corn: Planted area is estimated at 10.8 million acres, down 4 percent from last year. Harvested area, forecast at 10.65 million acres, is down 4 percent from 2023. Based on August 1 conditions, the Illinois corn yield is forecast at 225 bushels per acre, up 19 bushels from 2023. Production is forecast at 2.40 billion bushels, up 5 percent from last year.

Soybeans: Planted area is estimated at 10.8 million acres, up 4 percent from last year. Harvested area, forecast at 10.75 million acres, is up 4 percent from 2023. Based on August 1 conditions, the Illinois soybean yield is forecast at 66 bushels per acre, up 3 bushels per acre from 2023. Production is forecast at 710 million bushels, up 9 percent from last year.

Winter Wheat: Planted area is estimated at 770,000 acres, down 8 percent from last year. Harvested area, forecast at 700,000 acres, is down 10 percent from 2023. Based on August 1 conditions, the Illinois winter wheat yield is forecast at 83 bushels per acre, down 4 bushels from 2023. Production is forecast at 58.1 million bushels, down 14 percent from last year.