U.S. Crop Forecast:
Corn Slightly Down, Soybean Production Up

USAgNet reports that corn production is forecast at 12.3 billion bushels, down 6% from last year but 17% above 2006.  Yields are expected to average 155.0 bushels per acre, up 3.9 bushels from last year.  If realized, this yield would be the second highest on record, behind 2004.  Production would be the second highest on record, behind last year when producers harvested the most acres of corn for grain since 1933.

Soybean production is forecast at 2.97 billion bushels, up 15% from last year but down 7% from the record high production of 2006.  If realized, this will be the fourth largest production on record.  Yields are expected to average 40.5 bushels per acre, down 0.7 bushels from 2007.  Area for harvest in the U.S. is forecast at 73.3 million acres, up 2% from June and up 17% from 2007.

All wheat production, at 2.46 billion bushels, is virtually unchanged from the July forecast but up 19% from 2007.  Yields are forecast at 43.5 bushels per acre, unchanged from last month but 3.0 bushels above last year.