Allendale, Inc., president Steve Georgy told AgriTalk After the Bell listeners and host Chip Flory that his group anticipates increases in U.S. corn and soybean yields for the August Crop Production Report.
“We’re working with a national average corn yield of 177 bushels per acre in our balance sheet,” explained Georgy. “That bumps up the carryover from USDA’s 1.55 billion bushels, but not enough to change the outlook for corn.”
It’s a different story for soybeans. Georgy says they ancipate a national average bean yield of 51.2 bu. per acre. After Flory asked what that means for 2018-19 bean carryover, Georgy said, “I thought I’d get out of this without that question. But, we do expect a new-crop bean carryover above the 580 million bushels estimated by USDA in July.”