Bar chart cuts U.S. production and yield forecast for corn and soybeans
The data service company did not provide reasons for the drop
Barchart, a provider of data, software and technology services to global commodity buyers, agriculture and the food supply chain, has announced its first 2022 yield and production forecast for corn and US soybeans, indicating a decline in the USDA’s projected numbers from May’s WASDE. report.
“We are excited to kick off the 2022 growing season by providing commodity professionals with access to our estimates for U.S. corn and soybeans,” said Barchart CEO Mark Haraburda. “This year has been somewhat unprecedented for commodity markets, so we are proud to be able to provide users with as much information as possible for their crop marketing decisions.”
Barchart’s initial forecast calls for late-season U.S. corn production of 14.2 billion bushels with a yield of 174 bushels/acre. This compares to the USDA’s 14.5 billion bushels of production and yield of 177 bushels/acre. End-of-season US soybean production is forecast at 4.4 billion bushels with a yield of 49.5 bushels/acre. This compares to the USDA’s 4.6 billion bushels of production and yield of 51.5 bushels/acre.
The data services company did not provide reasons for the expected drop.