USDA has released their annual Crop Production numbers for 2019- and offered a larger US Corn Crop final number than what the trade expected. Despite those bigger numbers- corn and other ag futures all closed higher on Friday.
Here are the major crops detailed in this report:
Corn for grain production in 2019 was estimated at 13.7 billion bushels, down 5 percent from the revised 2018 estimate. The average yield in the United States was estimated at 168.0 bushels per acre, 8.4 bushels below the 2018 yield of 176.4 bushels per acre. Area harvested for grain was estimated at 81.5 million acres, up less than 1 percent from the revised 2018 estimate.
Sorghum: Grain production in 2019 was estimated at 341 million bushels, down 6 percent from the 2018 total. Planted area for 2019 was estimated at a record low 5.27 million acres, down 7 percent from the previous year. Area harvested for grain, at 4.68 million acres, was down 8 percent from 2018. Grain yield was estimated at 73.0 bushels per acre, up 0.9 bushel from 2018.
Soybean production in 2019 totaled 3.56 billion bushels, down 20 percent from 2018. The average yield per acre was estimated at 47.4 bushels, down 3.2 bushels from 2018. Harvested area was down 14 percent from 2018 to 75.0 million acres.
All cotton production is estimated at 20.1 million 480-pound bales, up 9 percent from 2018. The United States yield is estimated at 817 pounds per acre, down 47 pounds from last year. Harvested area, at 11.8 million acres, is up 16 percent from last year.
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