Fundamentally Speaking
2014 Corn Yield in Top States
The USDA threw the markets a curveball this week by surprisingly lowering the 2014 U.S. corn yield by 0.8 bushels per acre (bpa) to 173.4.
This is still a record yield by far though below the trade consensus of 175.3 bpa and well below the 180 level that had been bandied about earlier in the year.
The accompanying graphic shows the 2014 and 2004-2013 average corn yield in each of the top 18 producing states and also plots the 2014 yield as a percent of that ten year average.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
There are a number of features in this chart including the fact that over the past ten years Iowa has had the highest average yield of any of the top producing states followed up by Minnesota and then Nebraska.
Using a longer time period, Illinois would normally have the second highest corn yields in the country next to Iowa but the very poor drought induced 2012 result dragged their ten year average down by a large degree.
This year however through the November crop report, Illinois has the highest state yield of 200 bpa a new record and well above the Iowa yield of 183 bpa that also is an all-time high.
That Illinois yield is 24.1% greater than the ten year average, impressive indeed.
The state that did exceptionally well is Missouri for not only is their 181 bpa yield a new record by far but is a whopping 39.6% above its respective ten year average, the highest of any state followed up by TN at 31.4% above average.
All states had 2014 yields above their 2004-2013 averages with MN at 1.0% higher and CO at 3.0% better faring the worst.
(KA)
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