USDA Forecasts MN Corn Bushels to be Down This Year, While Soybean & Iowa Corn and Soybeans Higher

Minnesota corn production is forecast at 1.40 billion bushels, down 7% from last year, according to the latest USDA National Agricultural Statistics Service Crop Production report.  Based on conditions as of October 1st, yields are expected to average 183.0 bushels per acre, unchanged from the September forecast but down 2.0 bushels per acre from last year.  Corn planted acreage is estimated at 8.20 million acres, with an estimated 7.65 million acres to be harvested for grain.

Iowa corn production is forecast at 2.64 billion bushels, up 5% from the previous year.  Yields are expected to average 214.0 bushels per acre, up 2.0 bushels per acre from last month’s forecast and up 13.0 bushels per acre from last year.  Corn planted acreage is estimated at 12.9 million acres.  An estimated 12.4 million of the acres planted will be harvested for grain.

Minnesota soybean production is forecast at 352 million bushels, up 1% from the previous year.  The yield is forecast at 48.0 bushels per acre, down 1.0 bushel per acre from the September forecast but unchanged from 2023.  Soybean planted acreage is estimated at 7.40 million acres with 7.33 million acres to be harvested.

Iowa soybean production is forecast at 638 million bushels, up 11% from the previous year.  The yield is forecast at 64.0 bushels per acre, up 1.0 bushel per acres from last month’s forecast and up 6.0 bushels per acre from 2023.  Soybean planted acreage is estimated at 10.1 million acres with 9.97 million acres to be harvested.