The September crop forecast out today from USDA decreases the corn crop a bit, but increases both soybeans and cotton.
Corn production is now forecast at 15.1 billion bushels, down less than one percent from the August forecast, but still 11 percent more than last year and still expected to be a record. “Based on conditions as of September 1, yields are expected to average 174.4 bushels per acre, down 0.7 bushel from the August forecast but up 6 bushels from 2015. If realized, this will be the highest yield and production on record for the United States.”
Soybean production is forecast at a record 4.20 billion bushels, up 3 percent from August and up 7 percent from last year. Based on September 1 conditions, yields are expected to average a record 50.6 bushels per acre, up 1.7 bushels from last month and up 2.6 bushels from last year. Area for harvest in the United States is forecast at a record 83.0 million acres, unchanged from August but up 1 percent from 2015.
All cotton production is forecast at 16.1 million 480-pound bales, up 2 percent from August and up 25 percent from last year. Yield is expected to average 802 pounds per harvested acre, up 36 pounds from last year. Upland cotton production is forecast at 15.6 million 480-pound bales, up 25 percent from 2015. Pima cotton production is forecast at 562,000 bales, up 30 percent from last year.
The MGEX crop call on today’s reports featured commentary from Randy Martinson of Agvice: 9-12-16 MGEX Crop Call