U.S. Corn & Soybean Yield Forecasts Report: November 2022
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On October 12, 2022, the USDA released their most recent Crop Production report. Based on initial survey-based U.S. corn and soybean yields, their results forecast U.S. corn yield to be 171.9 bushels and 49.8 bushels for soybeans.
FBN®’s forecast was higher at 173 bushels per acre for corn but slightly lower for soybean bushels at 49.7.
This is down compared to 2021 yields of 177.0 bushels of corn 51.4 bushels of soybeans.
The USDA’s next report is slated for November 9, 2022 and will be the final report for the calendar year with next year’s yield estimates to be released on January 12, 2023.
Will yield increase or decrease compared to last month’s estimations? Click here to unlock the FBN Research team’s predictions in our latest report, free for FBN members.
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FBN® yield forecasting
The FBN Research team has been processing and analyzing data since the combines started rolling this season. We have collected 3,816 farm yield observations for corn and 1,954 for soybeans. We anticipate that data collection is close to or slightly above the halfway mark.
In our latest report, FBN will continue to predict both U.S. corn and soybean yield ahead of USDA’s report. We will also look at how FBN’s forecasts have historically presented low yield errors compared to other published predictions.
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