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USDA Crop Report Forecasts Are Within Industry Expectations

Dan Alabama, Corn, Cotton, Crop Forecasts, Field Crops, Florida, Fruits, Georgia, Peanuts, Pecans, Soybeans, Specialty Crops, Sugar, Vegetables

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USDA released their October crop forecasts last Friday, and according to a story from Stephanie Ho, the corn and soybean numbers are within industry expectations.

USDA Crop Report Forecasts Are Within Industry Expectations

Here are key findings for the Southern Region from the October Crop Production report:

Alabama: Corn area planted for all purposes is estimated at 340,000 acres, down 30,000 acres from the previous estimate. Production is forecast at 54.0 million bushels, up 20 percent from 2019. Cotton production is forecast at 890 million bales, down 2 percent from last month and down 13 percent from last year. Peanut production is forecast at 710 million pounds, down 5 percent from last month but up 36 percent from 2019. Soybean planted acreage is estimated at 280,000 acres, down 30,000 acres from the previous estimate. Production is forecast at 11.3 million bushels, down 3 percent from last month but up 20 percent from 2019.

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Florida: Corn area planted for all purposes is estimated at 100,000 acres, up 20,000 acres from the previous estimate. Cotton production is forecast at 170,000 bales, down 6 percent from last month and down 17 percent from last year. With yield forecast at a record high 4,000 pounds per acre, peanut production is forecast at 660 million pounds, down 5 percent from last month but up 12 percent from 2019. Sugarcane for sugar and seed production is forecast at 18.1 million tons, up 3 percent from 2019.

Georgia: Corn area planted for all purposes is estimated at 430,000 acres, up 40,000 acres from the previous estimate. With yield forecast at record high 182 bushels per acre, corn for grain production is forecast at 69.2 million bushels, up 24 percent from 2019. Cotton production for 2020 is forecast at 2.40 million bales, down 12 percent from last year. Peanut production is forecast at a record high 3.60 billion pounds, unchanged from last month but up 31 percent from 2019. Soybean planted acreage is estimated at 100,000 acres, up 10,000 acres from the previous estimate. Production is forecast at 3.63 million bushels, up 45 percent from 2019. Tobacco production, at 16.6 million pounds, is unchanged from last month. Pecan production is forecast at 125 million pounds, an increase of 71 percent from last year and if realized, the highest production since 2007.