Record Harvest Projected For Missouri Soybeans
USDA’s forecasts for corn and soybean production came in above trader estimates, including a potential record for Missouri soybeans. Wednesday’s crop production report indicates that Missouri’s five-point-five-five million acres of beans this year will have an average yield of 53 bushels per acre, a seven-bushel rebound from last year’s flood-stymied figure. Total production of 294-point-two million bushels would also set a record if USDA’s forecast is realized, and is a 28-percent increase from last year. Nationwide the crop entered August set to experience a 25-percent jump in production at four-point-four-two billion bushels from 83 million acres. Yield is forecast at a record 53-point-three bushels, nearly two bushels above trader expectations heading into the report’s release.
Corn production nationwide is projected to increase 12 percent to a record 15-point-three billion bushels. Yield also exceeded expectations at 181-point-eight bushels per acre. Missouri’s projected harvest of 586-and-a-quarter million bushels would be a 27-percent jump, with harvested area also higher at three-point-three-five million bushels. Yield is set to bounce back to 175 bushels per acre, which would be the second highest on record.
With more fields resuming row crop production, hay production is on track to decrease for Missouri. Alfalfa harvest is projected at 575-thousand tons from 230-thousand acres. Yield is also lower at two-and-a-half acres per ton. USDA has Missouri farmers baling six million tons of other hay this year, down nine percent from a year ago, with acreage at three million acres. Winter wheat production in the state for this year remains at 24-point-five-seven million bushels.
In the Bootheel, rice production is also set to jump 26 percent, with an estimated one-point-six billion pounds set for harvest. Yield is up at 75-hundred pounds per acre, and harvested acreage at 214-thousand acres. However, cotton’s poor start continues to weigh on the Missouri producers, with production set to drop eight percent to 840-thousand bales. While yield is set to increase to over 13-hundred pounds per acre, 65-thousand fewer acres are projected for harvest at 303-thousand.