The last three years have seen record corn yields with relatively small yield volatility. 2019 is already very different. As a result of the slow planting pace, the USDA took the unusual step of lowering its forecast for corn yield by 10 bushels. Yield has not been lowered this dramatically since 2011. In addition to yield, forecasted acres were also reduced as certain regions missed their planting window.
2019’s early corn price volatility may continue for much of the growing season. The late planting progress due to excessive soil moisture and historical flooding has already cut into yield potential. Although conditions have improved, the top end yields for corn and soybeans are likely gone for the season.
Based upon the IBM 15-day high-resolution hourly forecast, Main Street Data’s Progressive WeatherYield service is forecasting national yield at 160.1 Bu/A which would translate into a loss of 478 million bushels of total production compared to the current USDA estimate.
Take advantage of Progressive WeatherYield today, to gain access to these valuable insights.
Progressive Weather Yield vs USDA
Corn Yield & Price June 11, 2019
On June 11, the USDA lowered their corn yield forecast from 176 to 166 bushels, trending towards Main Street Data’s existing forecast. This translates to a loss of 10 bushels per acre due to late planting.
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