USDA’s most recent crop production report came out on Sept. 12, and even though the numbers for corn and soybeans are down from the August forecast, the news is actually still pretty good.
Let’s give it to you in a nutshell (but remember, these figures were determined before Hurricanes Gustav and Ike):
Corn:
- Corn production is forecast at 12.1 billion bushels.
- That’s down 2% from last month and 8% below 2007 (but remember, 2007 was one of the best years ever).
- Based on conditions as of Sept. 1, yields are expected to average 152.3 bushels per acre (bu/A), down 2.7 bushels from August but 1.2 bushels above 2007.
- If realized, yield will be the second highest on record, behind 2004, and production will be the second largest behind 2007.
- Yield forecasts are lower than last month across the northern and eastern Corn Belt and the Ohio and Tennessee valleys due to lack of rainfall in August, which reduced soil moisture supplies and stressed the crop.
- Yield prospects also decreased across much of the middle Mississippi Valley and adjacent areas of the Great Plains due to dry weather in August, which eliminated soil moisture surpluses.
Soybeans:
- Soybean production is forecast at 2.93 billion bushels.
- That’s down 1% from the August forecast but up 13% from last year.
- If realized, this will be the fourth largest production on record.
- Based on Sept. 1 conditions, yields are expected to average 40 bu/A, down 0.5 bushel from August and down 1.2 bushels from 2007.
- Compared with last month, yields are forecast lower or unchanged in the mid-Atlantic states, the central and eastern Corn Belt, Louisiana, Nebraska, and South Dakota.
- Yields increased or are unchanged from the Aug. 1 forecast across the Southeast and the remainder of the Great Plains.
- Area for harvest in the U.S. is forecast at 73.3 million acres, unchanged from Aug. 1 but up 17% from 2007.
