U.S. Corn & Soybean Yield Forecasts Report: October 2022
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On September 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 172.5 bushels and 50.5 bushels for soybeans.
This is down compared to 2021 yields of 177.0 bushels of corn 51.4 bushels of soybeans.
FBN®’s model-based yield forecast for U.S. corn and soybeans published in September was at a more conservative 169.5 bushels for corn and 50.6 for soybeans.
With widespread losses in Texas, Kansas and Nebraska, only Illinois is showing substantially better than expected yields so far. Corn yield observations from FBN members show few signs that USDA corn yields will need to be adjusted higher in coming reports
Ahead of the USDA’s next report, which will be released on October 12, 2022, FBN is once again looking at its own models to forecast corn and soybean yield.
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. [Not an FBN member yet? Click the link and create a new member account to access the report.]
FBN® yield forecasting
As the 2022 crop season comes to an end, FBN’s model-based yield estimate will shift to actual field observations as more data comes in from members.
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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