Indiana Grain Company, LLC

Posted: 10/27/11

By: tomgrisafi

2012 may be the world year for corn yields in close to a decade.

That's assuming a new report making this projection proves accurate.

"The U.S. corn harvest will be about 1.4 percent smaller than the government’s forecast, while average nationwide yields are heading for an eight-year low following an unusually wet spring and a hot summer," according to R.J. O’Brien & Associates analyst Randy Mittelstaedt.

The report was highlighted by the Dairy Herd Network on Wednesday, which added that, based on the report, farmers are expected to harvest about 12.25 billion bushels of corn this year at an average yield of 145.9 bushels an acre, the Chicago-based Mittelstaedt said in an Oct. 26 report. The projected harvest is down from the U.S. Department of Agriculture’s most-recent estimate, 12.43 billion bushels, in an Oct. 12 report. He also cut his soybean crop forecast.

Mittelstaedt’s estimated yield is down from the 148.1 bushels-per-acre average the USDA projected earlier this month and would be the lowest U.S. yield since farmers averaged 142.2 bushels an acre in 2003.

The USDA will update its crop estimates November 9th.

Source: R.J. O’Brien & Associates, Dairy Herd Network

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