by: Scott Irwin, Department of Agricultural and Consumer Economics
University of Illinois
In the Crop Production report released on October 10, 2017 the USDA estimated the U.S. average yield of corn to be 171.8 bushels per acre and the average yield of soybeans to be 49.5 bushels per acre. The October yield estimates confirmed that U.S. corn and soybean yields in 2017 would be rather large by historical standards. The estimated corn and soybean yields for 2017 are the second largest ever for the U.S. The “high” yield estimates released by the USDA since August have surprised many market observers and analysts based on the perception that crop condition ratings and weather during the 2017 growing season did not support an expectation of such large yields. The purpose of this article is to examine whether those perceptions were accurate or not. …Continue Reading…
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