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USDA Drops Corn Production, Raises Soybeans

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Corn production is forecast at 14.2 billion bushels, down 7 percent from last year. Based on conditions as of August 1, yields are expected to average 169.5 bushels per acre, down 5.1 bushels from 2016. If realized, this will be the third highest yield and production on record for the United States. Area harvested for grain is forecast at 83.5 million acres, unchanged from the June forecast but down 4 percent from 2016.

Soybean production is forecast at 4.38 billion bushels, up 2 percent from last year. Based on August 1 conditions, yields are expected to average 49.4 bushels per acre, down 2.7 bushels from last year. Area for harvest in the United States is forecast at a record high 88.7 million acres, unchanged from the June forecast but up 7 percent from 2016. Planted area for the Nation is estimated at a record high 89.5 million acres, also unchanged from
June.

All cotton production is forecast at 20.5 million 480-pound bales, up 20 percent from last year. Yield is expected to average 892 pounds per harvested acre, up 25 pounds from last year. Upland cotton production is forecast at 19.8 million 480-pound bales, up 19 percent from 2016. Pima cotton production is forecast at 770,000 bales, up 35 percent from last year.

All wheat production, at 1.74 billion bushels, is down 1 percent from the July forecast and down 25 percent from 2016. Based on August 1 conditions, the United States yield is forecast at 45.6 bushels per acre, down 0.6 bushel from last month and down 7 bushels from last year.

Winter wheat production is forecast at 1.29 billion bushels, up 1 percent from the July 1 forecast but down 23 percent from 2016. Based on August 1 conditions, the United States yield is forecast at 50.0 bushels per acre, up 0.3 bushel from last month but down 5.3 bushels from last year. The area expected to be harvested for grain or seed totals 25.8 million acres, unchanged from last month but down 15 percent from last year. Hard Red Winter production, at 758 million bushels, is up less than 1 percent from last month. Soft Red Winter, at 306 million bushels, is up less than 1 percent from the July forecast. White Winter, at 223 million bushels, is up 3 percent from last month. Of the White Winter production, 18.8 million bushels are Hard White and 204 million bushels are Soft White.

Durum wheat production is forecast at 50.5 million bushels, down 12 percent from the July 1 forecast and down 51 percent from 2016. The United States yield is forecast at 27.2 bushels per acre, down 3.7 bushels from last month and down 16.8 bushels from last year. Expected area to be harvested for grain or seed totals 1.86 million acres, unchanged from last month but down 21 percent from last year.

Other spring wheat production is forecast at 402 million bushels, down 5 percent from the July 1 forecast and down 25 percent from last year. Area harvested for grain or seed is expected to total 10.5 million acres, unchanged from last month but down 7 percent from last year. The United States yield is forecast at 38.3 bushels per acre, down 2 bushels from last month and down 8.9 bushels from last year. Of the total production, 364 million bushels are Hard Red Spring wheat, down 5 percent from the previous forecast and down 26 percent from last year.

Source: USDA NASS

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