USDA forecasts record corn, soybean production

Washington—The USDA on Sept. 12 released its updated Crop Production report, projecting U.S. corn production for 2016 at 15.1 billion bushels, up 11 percent from last year, but down less than one percent from the August forecast. Corn yields are expected to average 174.4 bushels/acre, down 0.7 bushel from the August forecast, but up 6 bushels from 2015. If realized, USDA said this will be the highest yield and production on record for the U.S, with record state yields expected in Idaho, Illinois, Iowa, Kentucky, North Dakota, South Carolina, Washington, and Wisconsin. Soybean production is also forecast at a record 4.20 billion bushels in 2016, up 3 percent from August and up 7 percent from last year, with yields expected to average a record 50.6 bushels/acre, up 1.7 bushels from last month and up 2.6 bushels from last year. All cotton production in the U.S. is forecast at 16.1 million 480-pound bales, up 2 percent from August and up 25 percent from last year, with cotton yields expected to average 802 pounds/acre, up 36 pounds from last year. U.S. rice production is forecast at 237 million cwt, down 3 percent from the August forecast, but up 23 percent from last year. If realized, rice production for 2016 would be the second highest on record for the country, with average yields projected at 7,569 pounds/acre, down 90 pounds from the August forecast, but 99 pounds higher than the 2015 average. Sorghum production in the U.S. is forecast at 488 million bushels, up 3 percent from last month but down 18 percent from last year, with average yields forecast at 75.7 bushels/acre, up 2.2 bushels from last month but down 0.3 bushels from last year. If realized, USDA said this will be the second highest sorghum yield on record for the U.S.