- Indigo is currently forecasting U.S. corn yield at 178.5 bushels per acre for corn and 49.7 bushels per acre for soybeans, 0.1% above and 4.2% below the USDA’s October WASDE report.
- Included is a state-by-state analysis of the 205M bushel corn stock revision released by the USDA on September 30th for June 1st stocks.
October 5, 2020. Indigo’s yield forecast came down 1.1 bushels per acre (bu/ac) for corn while rising 0.2 bu/ac for soybeans over the past month. This means our end-of-season yield estimates are at a record high for corn, and third best for beans in the past decade. Harvest is in full swing with dry and warm conditions throughout the Corn Belt, with soybeans outpacing and corn only slightly behind the USDA five-year average.
Stocks have emerged as the biggest corn market story heading into the end of the season. Last week, the USDA reported corn stocks for the beginning of the month at 1.995B bushels. This is 255M bushels below expectations, 80% of which was associated with the corn stocks revision from June 1st. This is the largest revision to a previous stocks report in the last decade. The specific cause of the revision is unclear, but may be linked to smaller corn production.
Find a state-by-state breakdown within our latest report:
For a deeper analysis of the report, tune in to the below webinar, hosted by the Head of GeoInnovation, David Potere, Sr. Director of Data Science, Nick Malizia, and lead analyst for Atlas Insights, Peter Schmidt.
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