2022 Production Totals Revised Ahead Of Thursday’s Updated Harvest Forecast

The quarterly grain stocks report late last month also provided revisions to last year’s corn and soybean production.  USDA revised total corn production lower by 15 million bushels from the figure they reported in January’s annual crop production report.  Corn production from 2022 now totals 13.71 billion bushels, harvested from 79.1 million acres, a downward revision of 92,000 acres.  However, yield was revised higher to 173.4 bushels per acre.  Missouri saw its harvested corn acreage for last year reduced by 10,000 acres to 3.11 million acres.  That resulted in last year’s harvest now totaling 500.7 million bushels.

Last year’s soybean harvest was also whittled lower in the ledgers.  USDA reduced last year’s totals by 5.84 million bushels to 4.270 billion bushels.  While yield was also notched higher by a tenth to 49.6 bushels per acre, harvested acreage was down 167,000 acres to 86.2 million acres.  Missouri’s acreage was reduced 20,000 acres to 6.04 million acres, resulting in a 910,000 bushel decrease for the state’s 2022 production.  Total soybean harvest for last year now totals 274.8 million bushels.

The revisions appeared ahead of the monthly Crop Production and World Ag Supply and Demand Estimates reports, set for release Thursday at 11 a.m.