These figures diverge from analysts’ expectations, which forecast corn production of 15,008 million bushels and 4,157 million bushels of soybeans.
The harvest soy in USA will be reduced compared to previous expectations due to adverse weather conditions which included high temperatures and droughts during the stages crucial for growth, as reported by the Government on Tuesday.
On the other hand, the Agriculture department of the United States (USDA) revised upwards its forecasts for the corn harvest, thanks to the extensive cultivation area that compensated for the damage caused by prolonged periods of drought. It is anticipated that This bumper crop will lift corn supplies to the highest level in seven years.
According to USDA estimates, sA soybean harvest of 4.146 million bushels is expected, with an average yield of 50.1 bushels per acre. Regarding the production of cornis estimated at 15.134 million bushels, with an average yield of 173.8 bushels per acre.
These figures diverge from analysts’ expectationswhich anticipated corn production of 15,008 million bushels and 4,157 million bushels of soybeans, according to the median of the estimates from a survey conducted by Reuters. Previous estimates pointed to a performance of 173.5 bushels per acre of corn and 50.2 bushels per acre of soybeans.
In summary, the agricultural landscape of the United States is challenging due to to adverse weather conditions, that will affect the soybean harvestwhile corn experiences an increase in production due to the extensive cultivated area.
Source: Ambito
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