Report snapshot: USDA raises corn production peg

U.S. Corn, Soybean and Cotton Production

Corn

Production
(bil. bu.)

Yield
(bu. per acre)

USDA

15.134

173.8

Average est.

15.008

173.5

USDA Aug.

15.111

175.1

Soybeans

Production
(bil. bu.)

Yield
(bu. per acre)

USDA

4.146

50.1

Average est.

4.157

50.2

USDA Aug.

4.205

50.9

Cotton

Production
(mil. bales)

Yield
(lbs. per acre)

USDA

13.13

786

Average est.

13.57

NA

USDA Aug.

13.99

779

U.S. Carryover

Corn – billion bushels

2022-23

2023-24

USDA

1.452

2.221

Average est.

1.460

2.140

USDA Aug.

1.457

2.202

Soybeans – million bushels

2022-23

2023-24

USDA

250

220

Average est.

255

207

USDA Aug.

260

245

Wheat – million bushels

2022-23

2023-24

USDA

580

615

Average est.

NA

613

USDA Aug.

580

615

Cotton – million bales

2022-23

2023-24

USDA

4.25

3.00

Average est.

NA

2.87

USDA Aug.

3.70

3.10

Global Carryover

Corn – MMT

2022-23

2023-24

USDA

299.47

313.99

Average est.

297.51

310.12

USDA Aug.

297.92

311.05

Soybeans – MMT

2022-23

2023-24

USDA

102.99

119.25

Average est.

102.90

118.59

USDA Aug.

103.09

119.40

Wheat – MMT

2022-23

2023-24

USDA

267.13

258.61

Average est.

268.38

264.44

USDA Aug.

268.31

265.61

Cotton – million bales

2022-23

2023-24

USDA

93.18

89.96

Average est.

NA

91.08

USDA Aug.

94.13

91.60