Farm Futures has released their final 2015 production projections and says they have seen increases in soybeans and decreases in corn. They are estimating producers have harvested 13.57 billion bushels of corn, which is less than what has been recorded the past two years, but still the third biggest corn crop in history. A survey of over 1,500 farmers estimates corn yields down slightly, averaging 169.1 bushels per acre. Although soybean production was up, it was not a dramatic change at just shy of 3.99 billion bushels, only 5 million more than the USDA’s current estimate. Acres dedicated to soybeans rose by 280,000 to 82.7 million, but yields were down slightly at 48.2 bushels per acre. According to Senior Grain Market Analyst, Bruce Knorr, the numbers will do little to change the bearish mood of the markets, for that to happen, demand must improve. The USDA production estimates are due to be released Tuesday, Jan. 12.
