United States Ag Production

Corn production is forecast at 14.722 billion bushels, down 178 million with a reduction in harvested area and a slight decline in yield to 178.4 bushels per acre.

Soybean production is forecast at 4.3 billion bushels, down 45 million on lower harvested area. Harvested area is reduced 0.7 million acres to 82.3 million, with reductions for Kansas, North Dakota, and South Dakota.

U.S. beet sugar production for 2019/20 is increased by 50,000 short tons, raw value (STRV) to 4.293 million due to an increase in projected August-September production from the 2020/21 crop year sugarbeet harvest.

The forecast for 2020 total red meat and poultry production is raised from last month. Beef production is raised from the previous month on higher expected second-half cattle slaughter. The pork production forecast is reduced on lower second-half commercial hog slaughter and lighter carcass weights. The broiler and turkey production forecasts are raised on production data to date.  

The milk production forecast for 2020 is raised from the previous month on slightly higher cow numbers and a more rapid pace of growth in milk per cow. For 2020, the fat basis import forecast is unchanged while the export forecast is reduced on lower exports of butterfat products.

The 2020/21 U.S. cotton supply and demand estimates show marginally lower production compared with last month. Production is lowered less than 1 percent, to 17.0 million bales.