Corn and soy slip a notch, traders expect sky-high yields | Food and Environment Reporting Network

Analysts expect record U.S. corn and soybean yields this fall that will be 3.5 percent higher than the marks set five years ago, according to a straw poll by Reuters. On average, the 20 analysts pegged the corn yield at 170.5 bushels an acre and soybeans at 45.6 bushels an acre, compared to the record 164.7 for corn and 44.0 for soybeans. The analysts figures are higher than USDA’s projections of record-setting crops. USDA will make its first field-based estimate of the crops on Aug 12.

Corn and soybeans, the two most widely grown crops in the country, are entering crucial reproductive stages. The weekly Crop Progress report said 75 percent of the corn crop was in good or excellent shape as of Sunday, down 1 point. Soybeans rated 71 percent good or excellent down 2 points. CattleNetwork said the corn ratings were the highest for late July since 2004. The National Weather Service expects cooler than normal weather in the Plains and Corn Belt in the near term but drier than normal in the Plains and western Corn Belt. The eastern Corn Belt may be wetter than usual.