August Report Offers Lower Corn and Soybean Production than Estimates

Corn production is forecast at 13.8 billion bushels, up 28 percent from 2012. If realized, this will be a new record production for the United States. Based on conditions as of August 1, yields are expected to average 154.4 bushels per acre, up 31.0 bushels from 2012. If realized, this will be the highest average yield since 2009. Area harvested for grain is forecast at 89.1 million acres, unchanged from the June forecast but up 2 percent from 2012.

Soybean production is forecast at 3.26 billion bushels, up 8 percent from last year. If realized, production will be the third largest on record. Based on August 1 conditions, yields are expected to average 42.6 bushels per acre, up 3 bushels from last year. If realized, the average yield will be the fifth highest on record. Area for harvest is forecast at 76.4 million acres, down less than 1 percent from June but up slightly from 2012. Planted area for the Nation is estimated at 77.2 million acres, down less than 1 percent from June.

All cotton production is forecast at 13.1 million 480-pound bales, down 25 percent from last year. Yield is expected to average 813 pounds per harvested acre, down 74 pounds from last year. Upland cotton production is forecast at 12.5 million 480-pound bales, down 25 percent from 2012. Pima cotton production, forecast at 579,800 bales, is down 26 percent from last year. Producers expect to harvest 7.70 million acres of all cotton, down 18 percent from 2012. This harvested total includes 7.52 million acres of Upland cotton and 183,800 acres of Pima cotton.

All wheat production, at 2.11 billion bushels, is up slightly from the July forecast but down 7 percent from 2012. Based on August 1 conditions, the United States yield is forecast at 46.2 bushels per acre, unchanged from last month but down 0.1 bushel from last year.

Winter wheat production is forecast at 1.54 billion bushels, down slightly from the July 1 forecast and down 6 percent from 2012. Based on August 1 conditions, the United States yield is forecast at 47.8 bushels per acre, unchanged from last month but up 0.6 bushel from last year. If realized, this will equal the United States record high yield established in 1999. The area expected to be harvested for grain or seed totals 32.3 million acres, unchanged from last month but down 7 percent from last year.

Hard Red Winter production, at 791 million bushels, is down slightly from last month. Soft Red Winter, at 542 million bushels, is up 1 percent from July. White Winter, at 209 million bushels, is down 1 percent from last month. Of the White Winter production, 11.9 million bushels are Hard White and 197 million bushels are Soft White. Durum wheat production is forecast at 60.2 million bushels, up 5 percent from July but down 27 percent from 2012. The United States yield is forecast at 40.1 bushels per acre, up 1.8 bushels from last month and up 1.1 bushels from last year. Expected area to be harvested for grain totals 1.50 million acres, unchanged from last month but down 29 percent from last year.

Other spring wheat production is forecast at 511 million bushels, down slightly from July and down 6 percent from last year. Area harvested for grain is expected to total 12.0 million acres, unchanged from last month but down 1 percent from last year. The United States yield is forecast at 42.8 bushels per acre, down 0.1 bushel from last month and down 2.2 bushels from 2012. Of the total production, 475 million bushels are Hard Red Spring wheat, down slightly from last month and down 6 percent from last year.

Source: NASS

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