The big U.S. corn and soybean crops keep getting bigger as the United States Department of Agriculture increased the production estimates in its November 9 report.
Corn production in the U.S. is now forecast at 15.2 billion bushels, up 1 per cent from the October forecast and up 12 per cent from last year.
Based on conditions as of November 1, yields are expected to average 175.3 bushels per acre, up 1.9 bushels from the October forecast and up 6.9 bushels from 2015. If realized, this will be the highest yield and production on record for the United States.
Area harvested for grain is forecast at 86.8 million acres, unchanged from the October forecast but up 8 per cent from 2015.
Soybean production is forecast at a record 4.36 billion bushels, up 2 per cent from October and up 11 per cent from last year. Based on November 1 conditions, yields are expected to average a record 52.5 bushels per acre, up 1.1 bushels from last month and up 4.5 bushels from last year.
Area for harvest in the United States is forecast at a record 83.0 million acres, unchanged from last month.