Barchart, a leading provider of data services, software and technology to global commodity buyers, agriculture, and the food supply chain, released their August 2021 Yield and Production forecasts for U.S. and Canadian field crops.
?Our forecasts for US field crop production have been revised higher on the back of increased yield expectations for both corn (180.2 bu/ac vs. 176.5 in July) and soybeans (51.0 bu/ac vs 50.0 in July) and now are broadly in line with the USDA?s most recent WASDE report,? Barchart CSO Keith Petersen said. ?Conversely, we?ve cut our Canadian production forecasts across both soybeans and wheat, with our Spring Wheat yield forecast down nearly 10% from July. This comes on the back of severe drought conditions across the Canadian prairies, which have inhibited the development of this year?s wheat crop.?
Here’s a summary of the information found in the forecast:
- U.S. Corn Production – Forecast at 15.0 billion bushels with a yield of 180.3 bu/ac. This compares to the USDA?s 15.1 billion bushels of production and 179.5 bu/ac yield.
- U.S. Soybean Production – Forecast at 4.4 billion bushels with a yield of 51.0 bu/ac. This compares to the USDA?s 4.4 billion bushels of production and 50.8 bu/ac yield.
- U.S. Hard Red Winter Wheat Yield – Forecast at 45.5 bu/ac. This compares to the USDA?s yield forecast of 53.6 bu/ac (includes all winter wheat varieties).
- Canadian Spring Wheat Production – Forecast at 816.0 million bushels with a yield of 50.6 bu/ac. This compares to the AAFC?s 920.8 million bushels of production and 53.5 bu/ac yield (includes spring wheat and winter wheat, excludes durum wheat).
- Canadian Soybean Production – Forecast at 225.2 million bushels with a yield of 42.6 bu/ac. This compares to the AAFC?s 228.9 million bushels of production and 42.8 bu/ac yield.
Barchart?s Crop Production and Yield Forecasts for the U.S. and Canada, released to the public on the first Tuesday of each month during the growing season, offer free help to users for crop marketing and business decisions ahead of governmental reports.
For more information, visit Barchart.com.
