USDA Forecasts Record-High Corn and Soybean Production in 2016
Both U.S. corn and soybean growers are expected to harvest record-high crops this year, according to the Crop Production report issued by the Department of Agriculture’s National Agricultural Statistics Service. USDA NASS Friday released the report that shows U.S. corn production is forecasted at 15.2 billion bushels, while soybean growers are expected to harvest 4.06 billion bushels in 2016
Average corn yield is forecast at 175.1 bushels per acre, setting a new record-high. U.S. soybean farmers also took advantage of the favorable weather conditions and are expected to increase their production by three percent from 2015. Soybean yields are expected to average 48.9 bushels per acre, reaching another record-high mark. Wheat production is forecasted at 2.32 billion bushels, up 13 percent from 2015. The report also included the first production forecast for U.S. cotton. NASS forecasts all cotton production at 15.9 million bales, up 23 percent from last year. Yield is expected to average 800 pounds per harvested acre, up 34 pounds from last year.
Source; NAFB News