WASHINGTON, D.C., U.S. — U.S. 2014 corn production was forecast at 14,031,915,000 bushels, up 1% from 13,925,147,000 bushels in 2013, the U.S. Department of Agriculture (USDA) said in its Aug. 12 Crop Production report.
Soybean production was forecast at 3,815,679,000 bushels, up 16% from 3,288,833,000 bushels last year. All-wheat production was forecast at 2,029,638,000 bushels, up 2% from 1,991,703,000 bushels in July but down 5% from 2,129,695,000 bushels in 2013.
The USDA corn number was below the average pre-report trade estimate of 14.239 billion bushels. The soybean number also was below the pre-report average of about 3.823 billion bushels. The all-wheat number was above the average analyst estimate of 2.013 billion bushels.
Corn, wheat and soy complex futures traded lower after the report.
Based on Aug. 1 conditions, corn yield was forecast at 167.4 bushels an acre, up 8.6 bushels from 158.8 bushels an acre in 2013, the USDA said. Harvested area was forecast at 83,839,000 acres, unchanged from the June Acreage report but down 4% from 87,668,000 acres in 2013.
Soybean yield was forecast at 45.4 bushels an acre, up 2.1 bushels from 43.3 bushels an acre in 2013. Harvested area was forecast at 84,058,000 acres, unchanged from June, up 11% from 75,869,000 acres in 2013 and the highest on record.
If realized, corn and soybean production and yields would be record high, the USDA said. It was the first USDA survey-based forecast of the season for corn and soybeans.
All-wheat average yield was forecast at 43.9 bushels an acre, up 0.8 bushel from July but down 3.3 bushels from 47.2 bushels an acre in 2013. Harvested area was forecast at 46,240,000 acres, unchanged from July but up 2% from 45,157,000 acres in 2013.
Production of spring wheat other than durum was forecast at 572,381,000 bushels, up 1% from 564,626,000 bushels forecast in July and up 7% from 533,529,000 bushels a year ago. The average yield was forecast at 46.1 bushels an acre, up 0.6 bushel from July but down 1 bushel from 47.1 bushels in 2013. Harvested area was forecast at 12,403,000 acres, unchanged from July but up 9% from 11,334,000 acres a year ago.
Production of hard red spring wheat was forecast at 529,139,000 bushels, up 2% from July and up 8% from 490,394,000 bushels in 2013.
Durum outturn was forecast at 60,515,000 bushels, up 1% from July but down 2% from 61,913,000 bushels in 2013. Based on Aug. 1 conditions, durum yield was forecast at 42.7 bushels an acre, up 0.6 bushel from July but down 0.9 bushels from 43.6 bushels an acre in 2013, the USDA said. Harvested area was forecast at 1,418,000 acres, unchanged from July but down slightly from 1,421,000 acres a year ago.
The USDA estimated winter wheat production at 1,369,742,000 bushels, up 2% from July but down 9% from 1,534,253,000 bushels in 2013. Winter wheat yield was estimated at 43.1 bushels an acre, up 0.9 bushel from July but down 4.3 bushels from 47.4 bushels an acre last year. Harvested area was estimated at 32,419,000 acres, unchanged from July but up slightly from 32,402,000 acres a year ago.
Hard red winter wheat production was estimated at 728,814,000 bushels, up 4% from July but down 2% from 744,029,000 bushels in 2013.
Soft red winter production was estimated at 466,362,000 bushels, up 2% from July but down 17% from 564,907,000 bushels in 2013.
Soft white winter wheat outturn was estimated at 190,267,000 bushels, down 3% from July and down 11% from 214,163,000 bushels in 2013. Hard white outturn was estimated at 11,299,000 bushels, up 7% from July and up 1% from 11,154,000 bushels last year.
The USDA forecast 2014 U.S. rice production at 228,777,000 cwts, up 20% from 189,886,000 cwts in 2013.
Sorghum production in 2014 was forecast at 429,294,000 bushels, up 10% from 389,046,000 bushels in 2013.
The USDA forecast 2014 oats production at 77,267,000 bushels, up 2% from July and up 17% from 65,879,000 bushels in 2013 but still the forth lowest on record.