Despite soggy July weather, U.S. farmers remain on target for producing the largest soybean crop in history, according to the Crop Production report, released today by the USDA’s National Agricultural Statistics Service. Soybean production is forecast at a record-high, 3.2 billion bushels, up 8 percent from last year. Yield is expected to average 41.7 bushels per acre, up 2.1 bushels per acre from 2008. If realized, this will be the fourth largest soybean yield on record.

Corn production is forecast at 12.8 billion bushels, up 5 percent from last year, but down 2 percent from the 2007 record. Based on conditions as of August 1, yields are expected to average 159.5 bushels per acre, up 5.6 bushels from last year. If realized, this will be the second highest yield on record. Growers are expected to harvest 80 million acres of corn for grain, down 100,000 acres from June, but up 2 percent from last year.

Winter wheat production is forecast at 1.54 billion bushels, up 1 percent from the July 1 forecast, but down 18 percent from 2008. Based on August 1 conditions, the U.S. yield is forecast at 44.2 bushes per acre, up from last month, but 3 bushels below last year. Harvest in 18 major producing states was 85 percent complete by August 2.

The August Crop Production report contains NASS’s first estimates of yield and production for corn, soybeans and other spring-planted row crops. Nearly 28,000 producers in major producing states, which usually account for about 75 percent of the U.S. production, were interviewed to obtain probable yield. These growers will continue to be surveyed throughout the growing season to provide indications of average yields.

The Crop Production report is published monthly and is available online.

Source: NASS