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Corn Yield Projections Lower for First Time in Decade

Posted May 13, 2022

The World Agricultural Supply and Demand Estimates (WASDE) report Thursday created quite the shock for corn producers. In a historic move, USDA lowered the national average corn yield trendline, something that has only been done five times in the past, with the most recent lowering in 2013. For 2022, the national average corn yield is projected at 177 bu/acre, 4 bushels lower than a previous projection in February.

The agency says the revision is due to the slow start to planting season and likely lower yields from a shortened growing season. Thursday’s report joins world corn production forecasts tempered by world events such as the Ukrainian crisis and the ongoing South American drought. Meanwhile, USDA’s domestic demand for corn is set to fall 2.5% through 2023, and exports are expected to decline 4% as lower supplies and strong domestic demand limit export availability.

Read more on corn market forecasts here.

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