USDA sticks with record yield forecast

WASHINGTON — The U.S. Department of Agriculture backed off on its corn and soybean average yield projections in the Nov. 8 crop production report, but still maintains record high projections in the “I” states.

Illinois

An average corn yield of 218 bushels per acre was forecast by USDA in the Prairie State, 4 bushels below the October and September estimates, 12 above 2023 and 4 higher than the 2022 high mark.

If the prediction reaches fruition, the 10.65 million harvested corn acres would produce nearly 2.322 billion bushels.

Illinois soybeans are forecast to average 65 bushels per acre, 2 below the October estimate, 2 above 2023 and tying the 2021 record. The 10.75 million harvested acres are predicted to produce 698.75 million bushels.

Indiana

USDA increased its average corn yield to 209 bushels per acre, 7 above last month and 6 higher than the previous record set last year. The projected 5.06 million acres harvested for grain would produce nearly 1.058 billion bushels in Indiana.

An average soybean yield of 62 bushels per acre was forecast for Indiana, 2 higher than last month’s estimate and 1 above last year’s record yield.

Approximately 358.36 million bushels is forecast to go through the combine across 5.78 million harvested acres.

Iowa

The nation’s top corn producer is projected to average a record 213 bushels per acre, 1 lower than last month’s forecast and 12 higher than 2023. The previous record of 204 was set in 2021.

USDA pegged harvested acres at 12.35 million for a possible total production of 2.631 billion bushels.

USDA lowered Iowa’s average soybean yield by 3 bushels from last month to 61 bushels per acre, 3 bushels above 2023. The 9.97 million harvested acres are anticipated to produce 608.17 million bushels.

Nationwide Corn

Based on conditions as of Nov. 1, the U.S. corn yield is forecast at a record high 183.1 bushels per acre, down 0.7 bushel from the previous forecast, but up 5.8 bushels from last year’s final estimate of 177.3 bushels per bushel.

The 2024 area harvested for grain, forecast at 82.7 million acres, is unchanged from the previous forecast, but down 4% from last year.

Production for grain in the nation is forecast at 15.1 billion bushels, down less than 1% from the previous forecast and 1% lower than last year.

Nationwide Soybeans

U.S. soybean yields are expected to average 51.7 bushels per acre, down 1.4 bushels from the previous forecast, but up 1.1 bushels from last year.

Area harvested for soybeans in the nation is forecast at 86.3 million acres, unchanged from the previous forecast and up 5% from 2023.

Production is forecast at 4.46 billion bushels, down 3% from the previous estimate and 7% higher than last year.