The USDA and National Agricultural Statistics Service (NASS) report that was of main interest was the acreage report released in late June. The results showed estimated national acres planted to corn up 3% from 2018 to 91.7 million acres and soybeans down 10% from 2018 to 80 million acres. The belief is that many acres that were intended for soybeans were switched to corn late in the planting season because of weather conditions.
The Pro Farmer Crop Tour, which is an annual data set many look forward to, confirmed that yields will likely be down across the Corn Belt compared to 2018. Between now and the end of harvest the topics of how many actual acres were planted (vs. the prevented plant option) and final yields will continue to be debated.
Keep an eye out in our Q4 newsletter for an in-depth look at the 2019 crop year by guest-writer Dr. Scott H. Irwin from the University of Illinois. Dr. Irwin is a national and international leader in the field of agricultural economics and has been on the forefront this entire crop year in analyzing the late planting season and its impact on yields, farmers, and consumers.