According to the November Crop Production report released today by the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS), corn production is expected to reach 14.4 billion bushels this year, up 3 percent from 2013. Soybean production is forecast at 3.96 billion bushels this year, up 18 percent from 2013. Both crops are on target for record-high yields and production.
Based on conditions as of November 1, yields for corn are expected to average 173.4 bushels per acre, down 0.8 bushel from the October forecast, but 14.6 bushels above the 2013 average. As for soybeans, yields are expected to average a record high 47.5 bushels per acre, up 0.4 bushel from October and up 3.5 bushels from last year.
Monday November 10, 2014/NASS-USDA/ United States.