Corn production is forecast at 11.7 billion bushels, up 1% from last month and 16% above 2003. Based on conditions as of Nov. 1, the yield is expected to average 160.2 bu./acre, up 1.8 bu. from October and 18.0 bu. above last year. If realized, both production and yield would be the largest on record. The previous records for both were set last year when production was estimated at 10.1 billion bushels and yield was 142.2 bu./acre. Across the U.S., yields are forecast at record high levels in 19 of the 33 published corn states. With the exception of Wisconsin, yields in the Corn Belt states are forecast at record highs as weather conditions have been mostly favorable throughout the growing season.

Soybean production is forecast at 3.15 billion bushels, up 1% from October and 28% above 2003. If realized, this would be the largest U.S. soybean crop on record. Based on Nov. 1 conditions, yields are expected to average a record high 42.6 bu./acre, up 0.6 bu. from October and 8.7 bu. above last year. Producers in the Corn Belt, Michigan, Pennsylvania, Maryland and the Carolinas are realizing higher yields than expected last month, while yield prospects decreased as harvest progressed in North Dakota and Minnesota. Area for harvest in the U.S. is forecast at 74.0 million acres, unchanged from last month but up 2% from 2003.

All cotton production is forecast at 22.5 million 480-lb. bales, up 5% from October and up 23% from last year's production. Yield is expected to average a record high 818 lbs./harvested acre, up 36 lbs. from last month. If realized, the yield will be 88 lbs. above the previous record high yield established in 2003. Record high yields are expected in Arkansas, California, Mississippi, Missouri, New Mexico, North Carolina, Oklahoma, Tennessee and Texas. Harvested area, at 13.2 million acres, is unchanged from October but 10% above 2003.