Software and technology provider Barchart released its monthly Yield and Production forecasts Tuesday for U.S. and Canadian field crops. The September report indicates an increase in U.S. crop production for corn, soybeans, and hard red winter wheat, while Canadian production forecasts show a decrease for spring wheat and soybeans. Barchart expects U.S. corn production at 15.4 billion bushels with an average yield of 183.6 bushels per acre, higher than the latest USDA figures of 14.8 billion bushels with an average yield of 174.6. Barchart pegs production at 4.5 billion bushels for soybeans with an average yield of 51.3 bushels per acre, compared to USDA’s 4.3-billion-bushel crop and 50 bushels per acre average yield. And for wheat, Barchart forecasts U.S. hard red winter wheat average yield at 45.5 bushels per acre compared to USDA’s average yield of 44.5. For Canadian crops, Barchart expects spring wheat production at 773.1 million bushels and soybean production at 222.9 million bushels.
Barchart Raises U.S. Crop Production Forecasts and Cuts Canadian Estimates