Grain, Oilseed, and Biofuel Outlook for 2009

Abstract

<p>The latest round of USDA updates to its World Agricultural Supply and Demand Estimates and Crop Production reports were updated on Oct. 28th. Corn acreage is now estimated at 85.9 million acres, with harvest expected on 78.2 million acres. Soybean area is estimated at 75.9 million acres planted and 74.4 million acres harvested. National yield estimates are 153.9 bushels per acre for corn and 39.5 bushels per acre for soybeans. Corn production is projected at 12.033 billion bushels, 39 million bushels below the September estimate. For soybeans, production is estimated at 2.938 billion bushels, 4 million above September estimates. These estimates still point to the 2nd largest corn crop and 4th largest soybean crop the U.S. has ever seen.</p>