FarmPolicy

September 23, 2019

WASDE (Food Security); Biofuels; Farm Bill; and Political Notes

WASDE (Food Security)

Yesterday, USDA’s National Agricultural Statistics Service (NASS) released its Crop Production report, which indicated that, “Corn production is forecast at 12.5 billion bushels, down 1 percent from the October forecast and down 4 percent from last year’s record production of 13.1 billion bushels [related graph]. As of November 1, yields are expected to average 154.3 bushels per acre, down 1.5 bushels from the previous month and 10.4 bushels below last year’s record of 164.7 bushels.

The NASS report added that, “Soybean production is forecast at a record high 3.38 billion bushels, down 1 percent from the October forecast but up slightly from last year [related graph]. Based on November 1 conditions, yields are expected to average 43.9 bushels per acre, down 0.5 bushel from last month and down 0.1 bushel from last year’s record high yield.

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