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U.S. corn, soybean, and wheat production forecasts for 2023

Corn production is forecast up from 2022 and soybean production is forecast down from last year.

According to the Crop Production report issued by USDA’s National Agricultural Statistics Service (NASS), corn production is expected to be up 10% from last year, forecast at 15.1 billion bushels. Soybean production is expected to decrease 2% from 2022, forecast at 4.21 billion bushels.

Average corn yield is forecast at 175.1 bushels per acre, up 1.8 bushels from last year. NASS forecasts a record-high yield in Indiana. As of July 30, 55% of this year’s corn crop was reported in good or excellent condition, six percentage points below the same time last year.

Soybean yields are expected to average 50.9 bushels per acre, up 1.4 bushels from 2022. If realized, the forecasted yields in Arkansas, Indiana, Mississippi, North Carolina, Ohio, and South Carolina will be record highs.

Wheat production is forecast at 1.73 billion bushels, up 5% from 2022. Growers are expected to produce 1.23 billion bushels of winter wheat this year, up 2% from the previous forecast and up 11% from last year. Durum wheat production is forecast at 57.4 million bushels, down 10% from 2022. All other spring wheat production is forecast at 450 million bushels, down 7% from last year. Based on Aug. 1 conditions, the U.S. all wheat yield is forecast at 45.8 bushels per acre, down less than one bushel from 2022.

August 11, 2023/ USDA/ United States.
https://www.nass.usda.gov

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