USDA Adjusts Corn and Soybean Production Outlooks

Saturday, August 17th, 2024 -- 8:05 AM

(John Perkins, Brownfield Ag News) -The USDA has raised its 2024 production outlooks for corn and soybeans.

Corn is now projected at 15.147 billion bushels, up 47 million from July with the USDA projecting a record average yield of 183.1 bushels per acre while cutting planted and harvested area estimates by 1% each from last month to 90.748 million and 82.71 million acres, respectively. In 2023, production was 15.341 billion bushels with an average yield of 177.3 bushels per acre on planted area of 94.641 million acres and harvested area of 86.513 million acres. Soybeans are pegged at a record 4.589 billion bushels, 154 million above a month ago, with an all-time high yield of 53.2 bushels per acre, and 1% month-to-month increases for both planted and harvested area to 87.1 million and 86.271 million acres.

Last year, soybeans totaled 4.165 billion bushels with an average yield of 50.6 bushels per acre on planted area of 83.6 million acres and harvested area of 82.356 million acres. More acreage and yield adjustments are likely in the next round of supply, demand, and production numbers September 12th.

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