Corn production is up, while soybean and cotton production is down from 2022, according to the most recent Crop Production report issued by USDA’s National Agricultural Statistics Service (NASS). Corn production is up 10% from last year, forecast at 15.1 billion bushels; soybean growers are expected to decrease their production 3% from 2022, forecast at 4.15 billion bushels; cotton production is down 9% from 2022 at 13.1 million 480-pound bales.
As is done every year in September, planted and harvested acreage estimates for corn, cotton, and soybeans were reviewed based on all available data, including the latest certified acreage data from the Farm Service Agency. As a result, area planted to corn is estimated at 94.9 million acres, up 1% from the previous estimate; area planted to soybeans is estimated at 83.6 million acres, up slightly from the previous estimate; and area planted to cotton is estimated at 10.2 million acres, down 8% from the previous estimate.
The average U.S. corn yield is forecast at 173.8 bushels per acre, down 1.3 bushels from last month’s forecast but up 0.5 bushel from last year. NASS forecasts record high yields in Ohio and South Carolina. Acres planted to corn, at 94.9 million, are up 7% from 2022. Area to be harvested for grain is forecast at 87.1 million acres, up 1% from last month and 10% more than was harvested last year. As of September 3, 53% of this year’s corn crop was reported in good or excellent condition, one percentage point below the same time last year.
Area for soybean harvest is forecast at 82.8 million acres, up slightly from last month but 4% less than was harvested last year. Planted area for the nation, estimated at 83.6 million acres, is down 4% from last year. Soybean yields are expected to average 50.1 bushels per acre, down 0.8 bushel from last month’s forecast but up 0.6 bushel from 2022. If realized, the forecasted yields in Arkansas, Indiana, Kentucky, Mississippi, New York, Ohio, and Tennessee will be record high.
NASS forecasts all cotton area to be harvested at 8.02 million acres, 7% below last month’s forecast, but 10% more acres than were harvested last season. Yield is expected to average 786 pounds per harvested acre, up 7 pounds from last month’s forecast, but down 164 pounds from 2022. Area planted to all cotton is estimated at 10.2 million acres, down 26% from last year.
NASS surveyed more than 7,000 producers across the country and conducted objective yield surveys for corn, cotton, and soybeans in preparation for this report.
EDITOR’S TAKE:
Some revisions to acreage and yields normally come this time of year. As more extensive ground truth observations and other verifiable data from the Farm Service Agency becomes available, the accuracy improves. Markets will now adjust accordingly, especially as harvest is underway in many states which will serve as further evidence of what we can expect for each of these crops. All that said, it is still expected to be a very good year for all three of these commodities. Make sure to attract farmers/ranchers into your dealership with after harvest parts and service specials. And while they are there, show off your new inventory and be sure to let them know about AgPack®.
