USDA Lowers Corn, Soybean and Cotton Estimates

Cindy Zimmerman Leave a Comment

USDA is now forecasting smaller corn and soybean crops for this year, compared to last month’s estimate, but still higher than last year.

According to the National Agricultural Statistics Service (NASS) October Crop Production report, acreage updates were made in several states based on a thorough review of all available data.

Corn production for grain is forecast at 14.7 billion bushels, down 1 percent from the previous forecast but up 8 percent from 2019. Based on conditions as of October 1, yields are expected to average a record high 178.4 bushels per harvested acre, down 0.1 bushel from the previous forecast but up 10.9 bushels from last year. Area harvested for grain is forecast at 82.5 million acres, down 1 percent from the previous forecast, but up 1 percent from the previous year.

Soybean production for beans is forecast at 4.27 billion bushels, down 1 percent from the previous forecast but up 20 percent from last year. Based on conditions as of October 1, yields are expected to average a record high 51.9 bushels per harvested acre, unchanged from the previous forecast but up 4.5 bushels from 2019. Area harvested for beans in the United States is forecast at 82.3 million acres, down 1 percent from the previous forecast but up 10 percent from 2019.

The all cotton production forecast was also adjusted slightly to 17.0 million 480-pound bales, which is 14% lower than 2019. Based on conditions as of Oct. 1, yields are expected to average 909 pounds per harvested acre, down one pound from the previous forecast but up 86 pounds from 2019.

Corn, Cotton, Soybean, USDA

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