U.S. 2014 corn crop up 1% from 2013

by Ron Sterk
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2014 corn production and yield

WASHINGTON — U.S. 2014 corn production was forecast at 14,031,915,000 bus, up 1% from 13,925,147,000 bus in 2013, the U.S. Department of Agriculture said in its Aug. 12 Crop Production report. Soybean production was forecast at 3,815,679,000 bus, up 16% from 3,288,833,000 bus last year. All-wheat production was forecast at 2,029,638,000 bus, up 2% from 1,991,703,000 bus in July but down 5% from 2,129,695,000 bus in 2013.

The U.S.D.A. corn number was below the average pre-report trade estimate of 14,239 million bus. The soybean number also was below the pre-report average of about 3,823 million bus. The all-wheat number was above the average analyst estimate of 2,013 million bus.

Corn, wheat and soy complex futures traded lower after the report.

Based on Aug. 1 conditions, corn yield was forecast at 167.4 bus an acre, up 8.6 bus from 158.8 bus an acre in 2013, the U.S.D.A. said. Harvested area was forecast at 83,839,000 acres, unchanged from the June Acreage report but down 4% from 87,668,000 acres in 2013.

2014 soybean production and yield

Soybean yield was forecast at 45.4 bus an acre, up 2.1 bus from 43.3 bus an acre in 2013. Harvested area was forecast at 84,058,000 acres, unchanged from June, up 11% from 75,869,000 acres in 2013 and the highest on record.

If realized, corn and soybean production and yields would be record high, the U.S.D.A. said. It was the first U.S.D.A. survey-based forecast of the season for corn and soybeans.

All-wheat average yield was forecast at 43.9 bus an acre, up 0.8 bu from July but down 3.3 bus from 47.2 bus an acre in 2013. Harvested area was forecast at 46,240,000 acres, unchanged from July but up 2% from 45,157,000 acres in 2013.

Production of spring wheat other than durum was forecast at 572,381,000 bus, up 1% from 564,626,000 bus forecast in July and up 7% from 533,529,000 bus a year ago. The average yield was forecast at 46.1 bus an acre, up 0.6 bu from July but down 1 bu from 47.1 bus in 2013. Harvested area was forecast at 12,403,000 acres, unchanged from July but up 9% from 11,334,000 acres a year ago.

Production of hard red spring wheat was forecast at 529,139,000 bus, up 2% from July and up 8% from 490,394,000 bus in 2013.

Durum outturn was forecast at 60,515,000 bus, up 1% from July but down 2% from 61,913,000 bus in 2013. Based on Aug. 1 conditions, durum yield was forecast at 42.7 bus an acre, up 0.6 bu from July but down 0.9 bus from 43.6 bus an acre in 2013, the U.S.D.A. said. Harvested area was forecast at 1,418,000 acres, unchanged from July but down slightly from 1,421,000 acres a year ago.

2014 all wheat production

The U.S.D.A. estimated winter wheat production at 1,369,742,000 bus, up 2% from July but down 9% from 1,534,253,000 bus in 2013. Winter wheat yield was estimated at 43.1 bus an acre, up 0.9 bu from July but down 4.3 bus from 47.4 bus an acre last year. Harvested area was estimated at 32,419,000 acres, unchanged from July but up slightly from 32,402,000 acres a year ago.

Hard red winter wheat production was estimated at 728,814,000 bus, up 4% from July but down 2% from 744,029,000 bus in 2013.

Soft red winter production was estimated at 466,362,000 bus, up 2% from July but down 17% from 564,907,000 bus in 2013.

Soft white winter wheat outturn was estimated at 190,267,000 bus, down 3% from July and down 11% from 214,163,000 bus in 2013. Hard white outturn was estimated at 11,299,000 bus, up 7% from July and up 1% from 11,154,000 bus last year.

The U.S.D.A. forecast 2014 U.S. rice production at 228,777,000 cwts, up 20% from 189,886,000 cwts in 2013.

Sorghum production in 2014 was forecast at 429,294,000 bus, up 10% from 389,046,000 bus in 2013.

The U.S.D.A. forecast 2014 oats production at 77,267,000 bus, up 2% from July and up 17% from 65,879,000 bus in 2013 but still the forth lowest on record.
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