USDA’s National Agricultural Statistics Service (NASS) released its latest Crop Production report on Sept. 12, which forecasts U.S. corn production at 14.8 billion bushels this year, up 2 percent from the August forecast and up 2 percent from last year.
Based on conditions as of Sept. 1, corn yields are expected to average 181.3 bushels/acre, up 2.9 bushels from the August forecast and up 4.7 bushels from 2017. If realized, NASS said this will be the highest corn yield on record for the U.S. Corn area harvested for grain is forecast at 81.8 million acres, unchanged from the August forecast, but down 1 percent from 2017.
Soybean production is forecast at a record 4.69 billion bushels, up 2 percent from August and up 7 percent from last year. Based on Sept. 1 conditions, soybean yields are expected to average a record-high 52.8 bushels/acre, up 1.2 bushels from last month and up 3.7 bushels from last year. Area for harvest in the U.S. is forecast at 88.9 million acres, unchanged from August but down 1 percent from 2017.
All cotton production is forecast at 19.7 million 480-pound bales, up 2 percent from August but down 6 percent from last year. Cotton yields are expected to average 895 pounds/harvested acre, down 16 pounds from last month and down 10 pounds from last year. Harvested area for all cotton is expected to total 10.6 million acres, down 5 percent from 2017.