Today, Barchart released its initial 2023 Yield and Production forecasts for US corn and soybeans.
The initial forecasts see end-of-season U.S. corn production at 15B bu with a yield of 177.9 bu/ac. This compares to the USDA’s 15.3B bu of production and 181.5 bu/ac yield.
The initial forecasts see end-of-season U.S. soybean production at 4.4B bu with a yield of 50.6 bu/ac. This compares to the USDA’s 4.5B bu of production and 52 bu/ac yield.
Last year, unfavorable weather conditions in the Corn Belt led to reduced production prospects. However, this year, there is reason for optimism as robust planting progress and the anticipated arrival of an El Niño weather system, known for bringing favorable growing conditions to the Midwest, indicate a more promising outlook for crop production in 2023. Barchart’s Crop Production and Yield Forecasts provide users with decision-making support for crop marketing and ingredient purchasing ahead of traditional forecasts from the USDA. Bi-weekly crop production forecasts are available to the public for free, while enterprise data and cmdtyView Pro clients can take advantage of daily forecast updates. When combined with best-in-class cash grain pricing and localized basis forecasts, Barchart is able to provide clients with more information and tools to analyze commodity markets.
To learn more about Barchart’s Crop Production Forecasts or to receive API access, please visit our website. To request a trial to cmdtyView Pro, our leading commodity trading platform, please click here. Additionally, we invite you to join us at Barchart's 3-day Grain Merchandising and Technology Conference in Downtown Nashville this September, which will feature product demos, panel discussions, industry awards, a charity golf outing, and many networking opportunities. Take advantage of our early-bird ticket offer, available until June 15, by visiting our event website.
On the date of publication, Megan Hankins did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
