FarmPolicy

November 14, 2018

Food Security (WASDE); Biofuels; Farm Bill; Climate Change; Rural America; and Political Notes

Food Security (WASDE)

On Friday, USDA’s National Agricultural Statistics Service (NASS) released its Crop Production report, which indicated that, “Corn production is forecast at 12.7 billion bushels, down 4 percent from the September forecast and down 3 percent from last year’s record production of 13.1 billion bushels [related graph]. Based on conditions as of October 1, yields are expected to average 155.8 bushels per acre, down 6.7 bushels from the previous month and 8.9 bushels below last year’s record of 164.7 bushels.”

The NASS report added that, “Soybean production is forecast at a record high 3.41 billion bushels, down 2 percent from September but 1 percent above last year [related graph]. Based on October 1 conditions, yields are expected to average a record high 44.4 bushels per acre, down 0.3 bushel from last month but up 0.4 bushel from last year.”

(more…)