USDA’s latest Crop Production report, released on Sept. 12, estimates corn production for grain at 15.2 billion bushels this year, up less than 1% from the previous forecast but down 1% from 2023.
Based on conditions as of Sept.1, corn yields are expected to average 183.6 bu/acre, up 0.5 bushel from the previous forecast and up 6.3 bushels from last year. Area harvested for grain is estimated at 82.7 million acres, unchanged from the previous forecast but down 4% from 2023.
Soybean production is projected at a record high 4.59 billion bushels, down slightly from the previous forecast but up 10% from 2023. Average yields are pegged at a record high 53.2 bu/acre, unchanged from the previous forecast but up 2.6 bushels from 2023, while total area harvested for beans in the US is forecast at 86.3 million acres, unchanged from the previous forecast but up 5% from 2023.
All cotton production is projected at 14.5 million 480-pound bales, down 4% from the previous forecast but up 20% from 2023. Cotton yields are expected to average 807 pounds/acre, down 33 pounds from the previous forecast and down 92 pounds from 2023. All cotton area harvested is estimated at 8.63 million acres, up slightly from the previous forecast and up 34% from 2023.