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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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USDA surprised with higher 2026 U.S. corn yields but it’s early with just over 20% of the U.S. harvest complete. NE, IA and IL corn and soybean yields continue to hold up the national average corn and soybean yields.
U.S. corn crop conditions fell 3% to 54% G-E and NE corn yield goes up 11 bpa with the 2nd wettest to record wet month of September and harvest only 15% complete??????
Some regions in the U.S. had the hottest summer in 140 years while others had record flooding?????
The Black Sea region is worse not better.
Brazilian real rally.
Brazil looks dry into November.
+ CFTC.