The 2015 corn and soybean crop continues to increase in size according to the USDA’s latest “World Agricultural Supply and Demand Estimates” and “Crop Production” reports.
The USDA now estimates the 2015 corn crop to reach 13.654 billion bushels. This will be the third largest corn crop in history. Yields are estimated at 169.3 bushels per acre which is the second highest yield average in history. This compares to last year’s yield of 171 bushels per acre.
The USDA estimates the season average corn price at a range of $3.35 to $3.95 per bushel.
This year’s soybean crop is estimated to reach 3.981 billion bushels, making it the largest soybean crop in history. The average yield is estimated to be 48.3 bushels per acre.
The USDA is predicting the season average soybean price to be in a range of $8.15 to $9.65 per bushel.