USDA Forecasts US Corn Production Up, Soybean and Cotton Production Down From 2022

Corn production is up, while soybean and cotton production is down from 2022, according to the Crop Production report issued today by USDA’s National Agricultural Statistics Service (NASS). Corn production is up 10% from last year, forecast at 15.1 billion bushels; soybean growers are expected to decrease their production 3% from 2022, forecast at 4.15 billion bushels; cotton production is down 9% from 2022 at 13.1 million 480-pound bales.

As is done every year in September, planted and harvested acreage estimates for corn, cotton, and soybeans were reviewed based on all available data, including the latest certified acreage data from the Farm Service Agency. As a result, area planted to corn is estimated at 94.9 million acres, up 1% from the previous estimate; area planted to soybeans is estimated at 83.6 million acres, up slightly from the previous estimate; and area planted to cotton is estimated at 10.2 million acres, down 8% from the previous estimate.

The average U.S. corn yield is forecast at 173.8 bushels per acre, down 1.3 bushels from last month’s forecast but up 0.5 bushel from last year. NASS forecasts record high yields in Ohio and South Carolina. Acres planted to corn, at 94.9 million, are up 7% from 2022. Area to be harvested for grain is forecast at 87.1 million acres, up 1% from last month and 10% more than was harvested last year. As of Sept. 3, 53% of this year’s corn crop was reported in good or excellent condition, one percentage point below the same time last year.

Source: usda.gov