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2022 U.S. CORN AND SOYBEAN YIELDS FALL BELOW TREND LINES
Dec. 15, 2022
by Gary Schnitkey, Nick Paulson, and Jim Baltz, Department of Agricultural and Consumer Economics, University of Illinois and Carl Zulauf, Department of Agricultural, Environmental and Development Economics, Ohio State University
While many states in the Corn Belt had above-trend yields, low yields in other states pulled down the U.S. yield. The U.S. yield averaged 172 bushels per acre, 5 bushels below the trend yield of 178 bushels per acre.
Since 2019, yields have been near or below the trend: 6 bushels below in 2019, 3 bushels below in 2020, 1 bushel above in 2021, and 6 bushels below in 2022. Near or below trend yield contributed to the strength in corn prices in recent years. Still, corn yields are not as bad as in the 2012 drought when corn yields were 38 bushels below trend.
Soybeans
The U.S. yield was 50 bushels per acre. The 2022 yield was 2 bushels below trend. Drought and lackluster yields in non-drought states contributed to the U.S. yield being below trend.
Like corn, U.S. soybean yields have been near or below trend since 2019: 3 bushels below trend in 2019, one bushel above in 2020, and at the trend in 2021. Near or below trend yields contributed to the strength in soybean prices in recent years.
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