Corn Update – October 6, 2017

CropProphet forecasts for U.S. corn ended on October 2, when September weather and satellite data were complete. Although the crop is not yet completely mature in some growing districts, there is little room for change in the outlook for the end-of-season U.S. yield, and harvesting is well under way in some areas. CropProphet does not continue to refine the yield and production forecasts based on harvest data, and so the daily updates are halted at the end of September.

Recent weeks have seen additional slight improvement in the corn forecasts, and CropProphet now expects a record U.S. yield of 176.0 bushels per acre, with a 50% confidence interval of 172.7-177.8 bushels per acre. The CropProphet yield and production forecasts remain significantly higher than the USDA estimates, but the USDA estimates will be updated in the October 12 crop production report and then revised further in subsequent months.