The Farmers Business Network has released its 2021 yield estimates ahead of Tuesday?s USDA WASDE report.
According to FBN chief economist Kevin McNew, yield data from 2021 and 2020 crop years were collected from a number of sources including direct surveys, harvest application technologies and seed plot trials.
AUDIO: Kevin McNew, Farmers Business Network
?At FBN, we have farmers that are actively harvesting and that data flows into our data center at FBN,? said McNew. ?We?re able to see in real time how yields are performing. We are looking at farmers? yields this year versus their historical yields. What we can see pretty clearly in Iowa is that (corn) yields are a little under USDA. Right now, we are pegging Iowa (corn) yield at 194 versus USDA at 198. We are still early in the game and yields have been performing better as the harvest has progressed. We think there is still a chance it may get up to the 198 estimate at USDA. On beans, they are doing really good, not just in Iowa ? Iowa bean yields are looking pretty good around 62 on average versus USDA at 59 ? but across the country we are seeing better than expected bean yields, so we think the USDA has maybe the potential to raise bean yields a fair margin in this coming Tuesday report.?
A press release from FBN says state and U.S. results may change as harvest progresses and new data becomes available. For more information, visit fbn.com.
