International Ag Insurance Solutions issued the following announcement on Oct. 11.
Corn production is forecast at 14.8 billion bushels, down slightly from the September forecast but up 1 percent from last year. Based on conditions as of October 1, yields are expected to average 180.7 bushels per acre, down 0.6 bushel from the September forecast but up 4.1 bushels from 2017. If realized, this will be the highest yield and second highest production on record for the United States. Area harvested for grain is forecast at 81.8 million acres, down slightly from the previous estimate and down 1 percent from 2017. Acreage updates were made in several States based on a thorough review of all available data.
Soybean production is forecast at a record 4.69 billion bushels, down slightly from September but up 6 percent from last year. Based on October 1 conditions, yields are expected to average a record 53.1 bushels per acre, up 0.3 bushel from last month and up 3.8 bushels from last year. Area for harvest in the United States is forecast at 88.3 million acres, down 1 percent from September and down 1 percent from 2017. Acreage updates were made in several States based on a thorough review of all available data.
All cotton production is forecast at 19.8 million 480-pound bales, up less than 1 percent from September but down 6 percent from last year. Yield is expected to average 901 pounds per harvested acre, up 6 pounds from last month but down 4 pounds from last year. Harvested area for all cotton is expected to total 10.5 million acres, down less than 1 percent from September and down 5 percent from 2017. Upland cotton production is forecast at 19.0 million 480-pound bales, down 6 percent from 2017. Upland harvested area is expected to total 10.3 million acres, down 5 percent from last year. If realized, the United States average yield for all cotton and Upland cotton will be the second highest on record. Pima cotton production, forecast at 771,000 bales, was carried forward from last month.
The United States all orange forecast for the 2018-2019 season is 5.62 million tons, up 43 percent from the 2017-2018 final utilization. The Florida all orange forecast, at 79.0 million boxes (3.56 million tons), is up 76 percent from last season’s final utilization. Early, midseason, and Navel varieties in Florida are forecast at 34.0 million boxes (1.53 million tons), up 79 percent from last season’s final utilization. The Florida Valencia orange forecast, at 45.0 million boxes (2.03 million tons), is up 73 percent from last season’s final utilization.
The California Navel orange forecast is 49.0 million boxes (1.96 million tons), up 8 percent from last season’s final utilization. The California Valencia orange forecast is 9.00 million boxes (360,000 tons), down 5 percent from last season’s final utilization. The Texas all orange forecast, at 2.40 million boxes (103,000 tons), is up 28 percent from last season’s final utilization.
Original source can be found here.
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