The World Agricultural Supply and Demand Estimates (WASDE) report released by USDA on October 11, 2018, indicated slightly lower 2018/19 corn production to 14.778 billion bushels, compared with the previous month projection (14.827 billion bushels), but up 174 million bushels (1.2 percent) year-over-year. If realized, 2018/19 production would be the second largest after 2016 (15.148 billion bushels). Production was revised down because of a lower yield forecast this month. Based on conditions as of October 1, 2018, the average 2018/19 corn yield forecast was reduced 0.6 bushels per acre to 180.7 bushels per acre from the September forecast (see Table 1). The latest yield forecast for 2018/19 was up 4.1 bushels per acre from the 2017/18 yield estimate (176.6 bushels per acre). If this yield projection is reached, this would be the highest on record. Among the top five corn producers, Iowa, Illinois, Nebraska and Indiana are projected to have state record yields with 204, 212, 195, and 194 bushels per acre, respectively. Minnesota’s yield is expected to decline to 191 bushels per acre year-over-year (193 bushels per acre), but if achieved this still would be the second largest on record (see Table 1).
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