AccuWeather: Smaller corn, soybean yields in 2019 as wet weather persists
Corn and soybean planting data showed a slight improvement in the May 20 U.S. Department of Agriculture's (USDA) Crop Progress compared to the previous week's report, but planting still remains behind schedule in 17 of 18 key states for both corn and soybean compared to their 2014-2018 averages.
AccuWeather predicts corn and soybean yields will fall below the USDA estimates for the season as wet weather persists throughout key corn- and soybean-producing states.
The corn crop was projected at 15 billion bushels, up from last year's crop of 14.3 billion bushels, according to the USDA. However, AccuWeather meteorologists estimate the 2019 corn crop will yield 14.2 billion bushels.
Similarly, the USDA estimated the soybean crop to yield 4.15 billion bushels in a May 10 report, following a 2018 season that saw a record 4.54 billion bushels.
AccuWeather, however, estimates the 2019 soybean crop will be 4.10 billion bushels. The continued wet weather has led to delays in planting corn and soybean, the two main crops for Midwestern farmers.
Corn planting as of May 20 in 18 key U.S. states is off 38.75% compared to the five-year average; by now, 80% of corn in those key states is planted, but this week's report shows that just 49% is planted.
Soybean planting is off 59.5% of its five-year average with just 19 percent of soybeans planted in the 18 key states, compared to 47% by May 20.