USDA Raises Corn, Soybean Production Estimates

US growers are expected to produce 15.1 billion bushels of corn for grain this year, up less than 1% from the previous forecast but up 10% from 2022, according to USDA’s Sept. 12 Crop Production report. Based on conditions as of Sept. 1, corn yields are expected to average 173.8 bushels/acre, down 1.3 bushels from the previous forecast but up 0.5 bushel from last year.

Total planted corn acreage is estimated at 94.9 million acres, up 1% from the previous forecast and up 7% from last year, while the area harvested for grain is forecast at 87.1 million acres, up 1% from the previous forecast and up 10% from last year.

Soybean production for beans is forecast at 4.15 billion bushels this year, down 1% from the previous forecast and down 3% from 2022. Average soybean yields are now projected at 50.1 bushels/acre, down 0.8 bushel from the previous forecast but up 0.6 bushel from 2022.

Total planted soybean area is estimated at 83.6 million acres, up less than 1% from the previous estimate but down 4% from last year. Area harvested for beans in the US is forecast at 82.8 million acres, up less than 1% from the previous forecast but down 4% from 2022.

All cotton production is forecast at 13.1 million 480-pound bales, down 6% from the previous forecast and down 9% from 2022. Cotton yields are expected to average 786 pounds/acre, up 7 pounds from the previous forecast but down 164 pounds from 2022.

Cotton planted area is estimated at 10.2 million acres, down 8% from the previous forecast and down 26% from 2022, while the cotton harvested area is forecast at 8.02 million acres, down 7% from the previous forecast but up 10% from 2022.