The U.S. Department of Agriculture released its supply and demand estimates for the 2015 crop. The 2015 corn crop is projected at 13.595 billion bushels compared to last year’s crop of 14.216 billion bushels. Yields are estimated at 166.8 bushels per acre compared to 171 bushels in 2014. Planted acres are estimated at 89 million acres and cash prices are estimated to average $3.50 per bushel.
This year’s soybean crop is projected to come in at 3.8 billion bushels, which compares to 3.979 billion bushels last year. Yields are estimated at 46 bushels per acre compared to 47.8 bushels last year. Average cash price is estimated at $9 per bushel.
The U.S. wheat crop is estimated to reach 2.125 billion bushels which is higher than last year’s crop of 2.026 billion bushels. Planted acres are expected to come in at 55.5 million with yields of 45.2 bushels per acre. Cash prices will average $5.10 per bushel.