According to the USDA’s latest “Crop Production” report, corn production is forecast at 13.8 billion bushels, and if realized, the crop will be a new record for the U.S. This is also up 28 percent from 2012.
Based on conditions as of Sept. 1, corn yields are expected 155.3 bushels per acre, nearly 32 bushels above the 2012 average. That would be the highest since 2009.
The USDA’s forecast for area harvest for grain is unchanged from August at 89.1 million acres.
In Iowa, the top corn-producing state in the country, the USDA forecasts corn production at 2.2 million bushels, up from 1.87 million bushels in 2012. Illinois is forecast to have the biggest bump in corn production this year at 1.96 million bushels, compared to 1.38 million bushels last year.
Corn production is forecast to drop from last year in three states – California, Minnesota and North Dakota.
The USDA also forecast soybeans at 3.15 billion bushels, down 3 percent from August, but up 4 percent from last year.
If realized, soybean production will be the fourth largest on record. Based on Sept. 1 conditions, yields are expected to average 41.2 bushels per acre, down 1.4 bushels from last month, but up 1.6 bushels from last year.
Area for harvest in the United States is forecast at 76.4 million acres, unchanged from August, but up slightly from 2012.