In the first half of August, Doane Advisory Services released the results of its annual crop tour, showing a lower yield for both corn and soybeans than expected by the U.S. Department of Agriculture (USDA).
The report reveals that the U.S. corn yield is at 163.3 bushels per acre, with production at 13.2 billion bushels. The amount is 326 million bushels less than the USDA projected for the period.
For soybeans, Doane pegs the yield at 44.2 bushels per acre and the crop at almost 3.7 billion bushels. This is 92 million below USDA estimates.
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