USDA issues May crop report
USDA on Thursday released the May World Agricultural Supply and Demand Estimates (WASDE) report.
The first projections of the 2022-23 crop year show U.S. corn production dropping 4.3 percent from last year in a season that has seen a slow planting start. Meanwhile, winter wheat production is at historic low levels for the southern Plains states. USDA projects hard red winter wheat output at 590 million bushels which is below estimates of 685 million. As of May 3, drought has impacted almost 70 percent of U.S. winter wheat areas.
USDA also lowered forecast for U.S. corn yields to 177 bushels per acre, which is down four bushels from February estimates. This is due to the slow pace of spring planting so far. On the Chicago Board of Trade Thursday, soybeans closed seven cents higher with July corn rising three cents.
According to USDA, around 30 percent of Ukraine’s farmland will not be planted this year due to the Russian invasion.
Illinois Crop Production information:
In Illinois, the Winter Wheat harvested area in 2022 is forecast at 660,000 acres, up 8 percent from the previous year. The winter wheat yield is forecast at 75 bushels per acre, down 4 bushels from 2021. Production is forecast at 49.5 million bushels, up 3 percent from last year.