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Corn and Soybean Production Could be Close to Record Highs this Year, USDA Predicts

Corn and Soybean Production Could be Close to Record Highs this Year, USDA Predicts

This year, the amount of corn and soybeans produced is expected to be the second- and third-highest, respectively, on record. 

High yields in both crops are expected in Illinois, Indiana, Kentucky, New York, Ohio and Pennsylvania, according to a recent report published by the U.S. Department of Agriculture. 

The federal government predicts there will be 15 billion bushels of corn and 4.37 billion bushels of soybeans produced this year — a 5.7% increase from 2020.

The top two states by crop production, Iowa and Illinois, are expected to produce 7.4% and 8.4% more corn and 19.7% and 11.6% more soybeans, respectively.
However, extreme weather might affect production in other states.

“Hurricane Ida’s impacts, which included flooding rains, damaging winds, power outages, and a coastal storm surge, were still being assessed,” the USDA said in its report.

The late-August hurricane became the strongest storm to hit Louisiana's coastline and moved through the state’s sugarcane, rice and cotton fields.

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2026 USDA June Crop Report Neutral + U S HRW LOWEST SINCE 1965!

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There were no big surprises in the USDA June report as it historically is not a market moving report, but U.S. HRW production was lowered by 18 million bushels. The June USDA crop report was neutral- higher global stocks & South American production offset lower U.S. wheat and higher U.S. corn exports.
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