USDA’s latest Crop Production report, released on Aug. 12, projects US corn production for grain at 15.1 billion bushels in 2024, down 1% from last year and the third highest level on record for the US. Based on conditions as of Aug. 1, the average corn yield is forecast at a record high 183.1 bu/a, up 5.8 bushels from last year.
Total area planted to corn is estimated at 90.7 million acres, down 1% from the previous estimate and 4% below last year’s crop. Area harvested for grain is forecast at 82.7 million acres, also down 1% from the previous forecast and 4% under last year’s total.
Soybean production in the US is forecast at a record high 4.59 billion bushels this year, up 10% from 2023. Yields are expected to average a record high 53.2 bu/a based on conditions as of Aug. 1, up 2.6 bushels from 2023. Area harvested for beans is forecast at 86.3 million acres, up 1% from the previous forecast and up 5% from 2023.
All cotton production is forecast at 15.1 million 480-pound bales, up a full 25% from 2023, while yields are expected to average 840 pounds/a, down 59 pounds from 2023. Cotton harvested area is forecast at 8.63 million acres, up 34% from 2023, while total planted area to cotton is estimated at 11.2 million acres, down 4% from the previous forecast but up 9% from 2023.
All wheat production for grain is forecast at 1.98 billion bushels, down 1% from the previous forecast but up 9% from 2023. Wheat yields are expected to average 52.2 bu/a, up 0.4 bushel from the previous forecast and up 3.6 bushels from 2023. Area harvested for grain is forecast at 37.9 million acres, down 2% from the previous forecast but up 2% from last year.