Agricultural News
Record Corn and Soybean Crop Remains in Play for US Farmers
Wed, 12 Oct 2016 19:32:48 CDT
The latest USDA Crop Production Report shows a record corn and soybean crop remains in play for US Producers- even with a slightly smaller US Corn Crop predicted based on October first data versus a month earlier. The US Soybean Crop keeps getting bigger as close to half of the harvest is now done. The cotton crop is 24% bigger than a year ago- but the US Grain Sorghum Crop is 22% smaller than in 2015, because of the acres lost to other crops for the 2016 planting.
USDA also is forecasting the 2016 Canola crop- which is mostly a spring planted crop except for the acres reported in Oklahoma and Kansas. The winter canola crop in those two states includes the first ever state breakout for Kansas, showing 23,000 acres harvested at the beginning of summer while Oklahoma ended up with 75,000 acres harvested this year. That's thirty five percent fewer acres harvested this year versus last- and while the crop is a much higher yielding crop in 2016 versus a year ago- 1,520 pounds versus 1,140 pounds- the final production comes in thirteen percent smaller. The final yield on the Oklahoma canola crop in 2016 is 114 million pounds, while Kansas reports 45 million pounds for 2016.
Nationally, corn production is forecast at 15.1 billion bushels, up 11 percent from last year but down slightly from the September forecast. Based on conditions as of October 1, yields are expected to average 173.4 bushels per acre, down 1 bushel from the September forecast but up 5 bushels from 2015. If realized, this will be the highest yield and production on record for the United States. Area harvested for grain is forecast at 86.8 million acres, up slightly from the September forecast and up 8 percent from 2015. Acreage updates were made in several States following a thorough review of all available data.
Soybean production is forecast at a record 4.27 billion bushels, up 2 percent from September and up 9 percent from las t year. Based on October 1 conditions, yields are expected to average a record 51.4 bushels per acre, up 0.8 bushel from last month and up 3.4 bushels from last year. Area for harvest in the United States is forecast at a record 83.0 million acres, up slightly from September and up 2 percent from 2015. Acreage updates were made in several States based on a thorough review of all available data.
All cotton production is forecast at 16.0 million 480- pound bales, down less than 1 percent from September but up 24 percent from last year. Yield is expected to average 797 pounds per harvested acre, up 31 pounds from last year. Upland cotton production is forecast at 15.5 million 480 -pound bales, up 24 percent from 2015. Pima cotton production, forecast at 562,000 bales, was carried forward from last month.
To review the entire report, click here.
The USDA also reported a WASDE report for October, which shows slightly larger wheat and soybean stocks, while corn stocks in this latest report are slightly lower. Click here to review the complete WASDE report.
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