WASHINGTON, D.C., U.S. — U.S. 2015 corn production was estimated at 13.654 billion bushels, up 99 million bushels, or less than 1%, from 13.555 billion bushels forecast in October but down 4% from a record 14.216 billion bushels in 2014, the U.S. Department of Agriculture (USDA) said in its Nov. 10 Crop Production report. Soybean production was estimated at a record 3.981 billion bushels, up 93 million bushels, or 2%, from 3.927 billion bushels forecast in October and up 1% from 3.9 billion bushels last year, which was the previous record.
The USDA corn number was above the average pre-report trade estimate of 13.556 billion bushels. The soybean number also was above the pre-report average of about 3.912 billion bushels.
Based on Nov. 1 conditions, corn yield was estimated at 169.3 bushels an acre, up 1.3 bushels from 168 bushels forecast in October but down 1.7 bushels from 171 bushels an acre in 2014, the USDA said. Harvested area was estimated at 80,664,000 acres, unchanged from October but down 3% from 2014.
Soybean yield was estimated at 48.3 bushels an acre, up 1.1 bushels from 47.2 bushels forecast in October and up 0.8 bushel from 47.5 bushels an acre in 2014. Harvested area was estimated at 82,429,000 acres, unchanged from October but down slightly from last year.
The USDA corn yield number was above the average trade forecast of 168 bushels an acre, and the soybean yield number also was above the trade average estimate of 47.5 bushels an acre.
The crop in the 18 major corn states was 93% harvested as of Nov. 8, ahead of 78% a year ago and 88% as the 2010-14 average for the date, the USDA said in its latest Crop Progress report. Soybeans were 95% harvested in the 18 major soybean states, ahead of 89% last year and 93% as the five-year average.