The USDA issued its final crop production report on Thursday for the 2022 crop year. For many regions of the Midwest, dry conditions persisted throughout the growing season. The numbers reflected that wide ranging drought as the U-S Department of Agriculture pegged total corn production at 13.73 billion bushels, or a nine percent decrease from the previous year. Soybean production was listed at 4.28 billion bushels, or a four percent decline from last year. The national average corn yield was listed at 173.3 bushels per acre with the soybean national production average at 49.5 bushels per acre. Chad Hart serves as the Iowa State University Extension Grain Marketing Specialist and ag economist. Grain futures responded positively to the report. Hart comments on his initial reaction to the crop report.
Hart says what may have surprised many people was the number of acres the USDA did not count due to the low production.
The crop report showed Iowa with an average corn yield at 200 bushels per acre. Nebraska had an average of 165 bushels per acre. Minnesota farmers produced an average of 195 bushels per acre of corn, and South Dakota had a corn yield average of 132 bushels per acre.
