USDA August Crop Production Report: Corn Production Down 13% From 2011; Soybean Production Down 12%; Winter Wheat Production Up 1% From July Forecast
Date Posted: August 10, 2012
Corn production is forecast at 10.8 billion bushels, down 13 percent from 2011 and the lowest production since 2006.
Based on conditions as of August 1, yields are expected to average 123.4 bushels per acre, down 23.8 bushels from 2011.
If realized, this will be the lowest average yield since 1995. Area harvested for grain is forecast at 87.4 million acres, down 2 percent from the June forecast but up 4 percent from 2011.
Soybean production is forecast at 2.69 billion bushels, down 12 percent from last year.
Based on August 1 conditions, yields are expected to average 36.1 bushels per acre, down 5.4 bushels from last year.
If realized, the average yield will be the lowest since 2003. Area for harvest is forecast at 74.6 million acres, down 1 percent from June but up 1 percent from 2011.
All wheat production, at 2.27 billion bushels, is up 2 percent from the July forecast and up 13 percent from 2011.
Based on August 1 conditions, the United States yield is forecast at 46.5 bushels per acre, up 0.9 bushel from last month and up 2.8 bushels from last year.
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