Corn Production Down Slightly from August Forecast; Soybean Production Down 2%

 

Corn production is forecast at 10.7 billion bushels, down less than 1% from the August forecast and down 13% from 2011. This represents the lowest production in the United States since 2006. Based on conditions as of Sept. 1, yields are expected to average 122.8 bu./acre, down 0.6 bu. from the August forecast and 24.4 bu. below the 2011 average. If realized, this will be the lowest average yield since 1995. Area harvested for grain is forecast at 87.4 million acres, unchanged from the August forecast but up 4% from 2011.

Soybean production is forecast at 2.63 billion bushels, down 2% from August and down 14% from last year. Based on Sept. 1 conditions, yields are expected to average 35.3 bu./acre, down 0.8 bu. from last month and down 6.2 bu. from last year. Compared with last month, yield forecasts are lower or unchanged across the Great Plains and most of the Corn Belt as lingering drought conditions continued to hamper yield expectations. Area for harvest in the United States is forecast at 74.6 million acres, unchanged from August but up 1% from last year.