New Delhi — Corn yields in Ohio and South Dakota are projected to be well below the US Department of Agriculture's estimates on the day one of the Pro Farmer Midwest Crop Tour that started Monday, according to a report by Platts Analytics.
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RegistroAccording to the report, average corn yield in seven districts of Ohio were estimated at 154.35 bushels per acre, below USDA's estimates of 166 bu/acre. Last year, corn yield estimate for the region was at 187 bu/acre.
In Ohio, the lowest yield projection recorded was 75 bu/acre and the highest was 199 bu/acre suggesting obvious variability, Pete Meyer, Senior Advisor, Agriculture Commodities at Platts Analytics said in the report.
In South Dakota, corn yield is seen to be at 154.08 bu/acre, below USDA's expectation of 157 bu/acre. Last year, corn yield in South Dakota was at 160 bu/acre.
According to the report, crop conditions improved as the scouts reached Nebraska. "Corn was a respectable 182.14 for a 10 stop average," it said.
The rest of Nebraska will be covered on Tuesday, and the final numbers will be released. Yield numbers for Indiana will also be released in Tuesday's report.
Maturity of the South Dakota crop looked to be a bit concerning as it needs 60+ days to mature, the report said. The Nebraska crop was farther along and looks to be ahead of any frost concerns, it added.
In its monthly World Agricultural Supply and Demand Estimates report for August, USDA estimated the yield for 2019-2020 (September-August) US corn would be 169.5 bu/acre, compared with a 166 bu/acre estimate in the July WASDE. The market expectation for corn yields in the US was at 164.9 bu/acre.
Harvest of corn in the US is likely to be delayed by 2-3 weeks on an average due to historic delays in plantings on the back of inclement weather.
Concerns about lower yields and output due to unfavorable weather had kept corn prices higher on the Chicago Board of Trade. Corn prices on the CBOT reached 5 year high of $4.7 per bushel in mid-June but easing weather concerns have pulled prices lower in recent sessions.
The front month September contract of corn on the CBOT opened at $3.7/ bu on Tuesday.
--Shikha Singh, shikha.singh1@spglobal.com
--Edited by Debiprasad Nayak, debiprasad.nayak@spglobal.com