USDA report increases corn production to 15.2 billion bushels
EAU CLAIRE, Wis. (WEAU) - Monday was a busy day for reports coming out of the USDA in Washington. First came the July World Agricultural Supply and Demand estimates yesterday morning. That report increased U.S. corn production for this year to 15.165 billion bushels—up 175 million bushels from last month based on projected plantings of 92.7 million acres and yields of 179 and a half bushels an acre. That also increased ending stocks to almost 1.4 billion bushels-up from 1.35 billion in the June report. The report also lowered the expected farm gate average corn price this year to $5.60 a bushel—down a dime from June. The soybean numbers were pretty much the same from last month—yields of just over 4.4 billion bushels on per acre yields of 50.8 bushels. That also meant ending stocks stayed the same at 155 million bushels. The only thing that changed for soybeans was the price—now estimated to be down 15 cents this year to $13.70 a bushel.
The USDA also issued the weekly Crop Progress report yesterday and it shows the condition of the corn crop across the country actually improved over the last week. It’s now rated 65% good to excellent—up 1% from a week ago. Corn improved the most in South Dakota, Iowa and Michigan. The report also says 26% of the crop is silking and 3% is in the dough stage. Soybeans are rated 59% good to excellent this week—the same as last week as Iowa and South Dakota reported some of the best looking beans across the country. Farmers also said 46% of the beans are blooming and 10% of the plants are setting pods.
In Wisconsin, 77% of the corn is rated good to excellent this week—up 2% from last week as 5% of the plants are silking. Soybeans are rated 73% good to excellent across the state—also up 2% from a week ago as 52% of the plants are blooming and 11% are setting pods. The oat crop across the state is also 25 better than last week as it’s now rated 72% good to excellent with 93% of the plants headed with 2% of the crop harvested. But the potato crop looks the best with a rating of 96% good to excellent this week and 1% of the crop already harvested. Farmers have also made 71% of their second hay crop and 3% of third crop as the hay is called 72% good to excellent this week.
County fairs continue around the area this week with the Barron, Trempealeau, St. Croix and the LaCrosse Interstate fairs all starting later this week.
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