Both USDA production numbers were below the average of pre-report trade estimates of 12.492 billion bushels for corn 3.094 billion bushels for soybeans.
Based on Oct. 1 conditions, corn yield was forecast at 148.1 bushels an acre, unchanged from September but down 4.7 bushels from 152.8 bushels an acre as the final 2010 average yield. Harvested area was forecast at 83.9 million acres, down 1% from 84.4 million acres in September but up 3% from 81.4 million acres in 2010.
“If realized, this will be the fourth largest production total on record for the United States,” the USDA said. The yield average would be the lowest since 2005.
Soybean yield was forecast at 41.5 bushels an acre, down 0.3 bushels from 41.8 bushels an acre in September and down 2 bushels from 43.5 bushels an acre in 2010. Harvested area was forecast at 73.7 million acres, down 147,000 acres from September and down 4% from 76.6 million acres in 2010.
The USDA yield numbers were below the average trade forecast of 148.9 bushels an acre for corn 42 bushels an acre for soybeans.
“If realized, the average yield will be the second lowest since 2003,” the USDA said.
U.S. 2011 rice production was forecast at 186,903,000 cwts, down 2% from 190,854,000 cwts in September and down 23% from 243,104,000 cwts in 2010.
Sorghum production in 2011 was forecast at 243,800,000 bushels, down 294,000 bushels from 244,094,000 bushels in September and down 29% from 345,395,000 bushels in 2010 and the lowest since 1956, the USDA said.