The United States Department of Agriculture has trimmed its forecast for U.S. corn production and boosted the estimate for soybeans.
In the report released on Sept. 12, corn production is forecast at 15.1 billion bushels, up 11 percent from last year but down less than one percent from the August forecast.
Based on conditions as of Sept. 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, the USDA said this will be the highest yield and production on record for the United States. Area harvested for grain is forecast at 86.6 million acres, unchanged from the August forecast, but up 7 percent from 2015.
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 Sept. 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.