USDA Crop Production
Forecast Higher Again

WASHINGTON —(USDA)— Corn production nationwide is forecast at 9.27 billion bushels in USDA’s latest estimate, three percent above the Oct. 1 forecast and up 26 percent from 1995. It would be the third largest production on record, behind 1994 and 1992.

Soybean production is forecast at 2.4 billion bushels, up two percent from the Oct. 1 estimate and 10 percent above 1995. It would be the second largest soybean harvest on record, behind only 1994.

The corn forecast is based on a harvested acre estimate of 73.3 million acres, unchanged from last month, and an expected average of 126.5 bushels per acre, up 3.5 bushels from last month and 13 bushels higher than in 1995. Favorable fall weather boosted expected yields in all the major corn producing regions of the country.

The soybean forecast is based on an expected yield of 37.9 bushels per acre, .9 bushels above the October estimate and 2.6 bushels above the 1995 yield. As in the case of corn, ideal weather conditions improved yield estimates.