Pro Farmer, a division of Farm Journal, recently shared its much-anticipated production estimates for the 2021 U.S. corn and soybean crops after analyzing information from the 29th annual Pro Farmer Crop Tour and other sources. The estimates are formed by data and observations collected through an exceptional effort by Crop Tour scouts across seven key midwestern states.
Corn: Pro Farmer estimates the 2021 U.S. corn crop at 15.116 billion bushels based on an average yield of 177 bu. per acre. That would be up from USDA's August estimate of 174.6 bu. per acre.
"Areas east of the Mississippi River are pacing to have very strong yields based on what we saw during Crop Tour," said Pro Farmer's Brian Grete. "The drier and drought-stricken areas to the west still have a lot of potential if they receive additional moisture in the coming weeks."
Soybeans: Pro Farmer estimates the 2021 U.S. soybean crop at 4.436 billion bu. with a national average yield of 51.2 bu. per acre, up from the 50 bu. per acre USDA estimated Aug.12.
"From what I've seen, the soybean pod counts have been pretty rock solid so far," said Grete. "On some of the soybeans, I would say we're still measuring yield potential because they still need to plump up and if they get rains to plump up those pods, the yield is going to rise."
The Pro Farmer Crop Tour, which informs the Pro Farmer national yield estimates, concluded successfully last week. The Tour was carried out by a dedicated group of crop scouts who sampled more than 3,300 fields across seven key Midwest states, a record number of samples in the Crop Tour's 29-year history.
EDITOR’S TAKE:
Mother Nature is still in control of the final outcome for 2021 crops. Additional moisture is critical to creating a strong yield outcome for both corn and soybeans this year. The other key is how farmers market their crop. If yields rise as predicted, most likely prices will moderate some. Farmers who locked in higher prices by either forward contracting or hedging part or most of their crop will be rewarded. Most farmers today are pretty savvy about locking in profits when prices are higher. Many, if not most, subscribe to market advisory services which help direct them to execute pricing strategies when the timing is right. With harvest just around the corner, now would be an excellent time to visit with corn and soybean producers in your area to discuss both their harvest and post-harvest truck requirements. You might also think about how you could help make their harvest preparations a little smoother and easier with some service and parts specials until they can actually trade that old truck for a new one after harvest is complete. Think past your current inventory situation at the dealership….
