Analyst Suderman still expects corn acres to decrease
USDA left their corn and soybean acreage estimates unchanged in Tuesday’s crop production report, with corn at 97 million acres and soybeans at 83-point-five million.
INTL FCStone market analyst Arlan Suderman says he expects those numbers to change by next month.
“I think we could end up with corn around 95 million and soybeans up to around 86-and-a-half million—but that’s still a work in progress,” Suderman says.
USDA estimates this year corn crop at 16 billion bushels with an average yield of 178.5 bushels per acre. Soybean production is forecast at more than four billion bushels with a trendline yield of nearly 50 bushels per acre.