USDA cuts corn and soybean production forecasts in October WASDE report

Iowa corn production is forecast at 2.49 billion bushels, down 2 percent from the previous year, according to the latest USDA, National Agricultural Statistics Service – Crop Production report. Based on conditions as of October 1, yields are expected to average 200.0 bushels per acre, unchanged from the September 1 forecast but down 4.0 bushels per acre from last year. Corn planted acreage is estimated at 12.9 million acres. An estimated 12.5 million of the acres planted will be harvested for grain.

Soybean production is forecast at 581 million bushels, down 8 percent from the previous year. The yield is forecast at 58.0 bushels per acre, down 1.0 bushel per acre from the September 1 forecast and down 5.0 bushels per acre from 2021. Soybean planted acreage is estimated at 10.1 million acres with 10.0 million acres to be harvested.

Production of alfalfa and alfalfa mixtures for hay is forecast at 2.36 million tons, down 26 percent from the previous year. Yield is expected to average 3.80 tons per acre, up 0.30 ton per acre from last year. Production of other hay is forecast at 820,000 tons, down 13 percent from last year. Yield for other hay is expected to average 2.00 tons per acre, down 0.70 ton per acre from last year.

Nationally, corn production for grain is forecast at 13.9 billion bushels, down less than 1 percent from the previous forecast and down 8 percent from 2021. Based on conditions as of October 1, yields are expected to average 171.9 bushels per harvested acre, down 0.6 bushel from the previous forecast and down 4.8 bushels from last year. After a thorough review of all available data, acreage estimates are unchanged from last month. Total planted area, at 88.6 million acres, is unchanged from the previous estimate but down 5 percent from the previous year. Area harvested for grain, forecast at 80.8 million acres, is unchanged from the previous forecast but down 5 percent from the previous year.

Soybean production for beans in the US is forecast at 4.31 billion bushels, down 1 percent from the previous forecast and down 3 percent from 2021. Based on conditions as of October 1, yields are expected to average 49.8 bushels per acre, down 0.7 bushel from the previous forecast and down 1.9 bushels from 2021. After a thorough review of all available data acreage estimates are unchanged from last month. Total planted area, at 87.5 million acres, is unchanged from the previous estimate but up less than 1 percent from the previous year. Area harvested for beans in the United States is forecast at 86.6 million acres, unchanged from the previous forecast but up less than 1 percent from 2021.

The forecasts in this report are based on October 1 conditions and do not reflect weather effects since that time. The next crop production forecasts, based on conditions as of November 1, will be released on November 9


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