Crop consultant Dr. Michael Cordonnier has raised his corn production estimate to reflect an increase in planted corn acres. Last week USDA raised its corn planted acreage estimate to indicate that farmers planted 97.4 million acres of corn and 77.7 million acres of soybeans -- both up from March intentions projections.
Dr. Cordonnier has adjusted his planted soybean acreage estimate to be even with USDA, but believes USDA’s corn acreage estimate is 1 million acres too high. He is using a planted corn estimate of 96.4 million. Dr. Cordonnier has left his yield estimates unchanged at 153 bu. per acre for corn and 42 bu. per acre for soybeans.
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