Released today, the latest USDA crop report is showing increases in corn and soybean production, as well as an increase in yields. Below is a summary for corn and soybean production.
Corn production is forecast at 13.0 billion bushels, up 2% from last month and 7% higher than 2008. Based on conditions as of Sept. 1, yields are expected to average 161.9 bu./acre, up 2.4 bu. from August and 8 bu. above last year. If realized, this will be the highest yield on record and production will be the second largest, behind 2007. Yield forecasts increased from last month across the western Corn Belt and the northern half of the Great Plains as mild temperatures and adequate soil moisture supplies provided favorable growing conditions. Yield prospects were unchanged in the eastern Corn Belt where dry conditions during August depleted soil moisture supplies.
Soybean production is forecast at a record high 3.25 billion bushels, up 1% from the August forecast and up 10% from last year. Based on Sept. 1 conditions, yields are expected to average 42.3 bu./acre, up 0.6 bu. from last month and up 2.7 bu. from 2008. If realized, this will be the third highest yield on record. Compared with last month, yields are forecast higher or unchanged in all states except Indiana, where the yield is expected to be down 2 bu. The largest increases in yield from the August forecast are expected in Alabama and Maryland, up 5 and 6 bu., respectively. If realized, the forecasted yield in Alabama, Georgia and Mississippi will be a record high and the forecasted yield in Nebraska, North Carolina and Ohio will tie the previous record high. Area for harvest in the U.S. is forecast at 76.8 million acres, up slightly from June and up 3% from 2008.
To read the full report, go to the USDA Crop Production page.