The United States is headed for a record-setting soybean crop and the third-largest corn crop on record, although the harvests will be marginally smaller than forecast by USDA, says the Pro Farmer crop tour of seven Farm Belt states that grow the bulk of the crops. The tour, conducted with the crops three weeks closer to maturity, points to another year of ample supplies and pressure on commodity prices.
After inspecting hundreds of fields from Ohio to South Dakota, crop tour officials estimated a soybean crop of 4.331 billion bushels, topping the 2016 record of 4.307 billion bushels, and a corn crop of 13.953 billion bushels, which would be 200 million less than forecast by USDA. The Pro Farmer estimates are 1 percent smaller than USDA’s forecast.
“These estimates are based on assumptions of normal weather through September,” said Pro Farmer. “Weather next month will be especially important as an earlier-than-normal frost/freeze would damage later-maturing corn and soybeans.” A cold and rainy spring delayed planting in some areas. Drought in the northern Plains brought arid conditions to parts of the western Corn Belt during the summer.