On August 26th, ProFarmer released production estimates for the 2022 corn and soybean crops following the 30th Annual Crop Tour.  The estimates are based on observations by more than 100 crop scouts who sample 3,400 fields across Ohio, Indiana, Illinois, South Dakota, Nebraska, Iowa and Minnesota.

The national corn estimate for 2022 attained an average of 13.759 billion bushels, with an average yield of 168.1 bushels per acre with a one percent range of 166.4 bushels to 169.8 bushels per acre.

The 2022 soybean crop was estimated at 4.535 billion bushels with an average yield of 51.7 bushels per acre, ranging from 50.7 bushels per acre to 52.7 bushels per acre.

In commenting on the findings, Brian Grete, Editor of ProFarmer, noted that there were insufficient extra bushels in the Eastern corn belt that received higher rainfall to offset losses in Western regions.

The ProFarmer estimates are lower than the 2021 Tour values and also the August 12th USDA yield estimates included in the WASDE.  The following differences were recorded with values expressed as bushels per acre:      

For soybeans, ProFarmer yield estimates were closer to USDA yield estimates than with corn with the following state values in bushels per acre:         

Release of the report will have an immediate effect on CME prices.  It will be of interest to observe the changes made by USDA in the September WASDE to be reviewed in the September 16th edition of EGG-NEWS.