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USDA forecasts record production in 2016

Corn and soybean farmers expected to have bountiful harvest

By Diego Flammini
Assistant Editor, North American Content
Farms.com

If corn and soybean farmers keep up their current production, it will be a record harvest for both crops, the USDA reports.

According to the Department of Agriculture, growers are expected to increase corn production by 11 per cent from 2015.

“U.S. corn production is forecast at 15.2 billion bushels,” the USDA said. “Average corn yield is forecast at 175.1 bushels per acre, setting a new record high.”

The USDA’s National Agricultural Statistics Service predicts record yields in 10 of the largest corn-producing states, including Iowa, Illinois and Nebraska.

The USDA expects soybeans to follow suit and have a record yield of its own.

“Soybean growers are expected to harvest 4.06 billion bushels in 2016,” the Department said. “Soybean yields are expected to average 48.9 bushels per acre, reaching another record-high mark.”

The USDA expects record soybean yields from Illinois, Iowa, Missouri, Nebraska and Wisconsin.

Not to be outdone, winter wheat is expected to have a successful harvest.

“Growers are expected to harvest 1.66 billion bushels of winter wheat this year, up 21 per cent from 2015,” said the USDA.

The total U.S. wheat yield is forecasted at 52.6 bushels per acre, up nine bushels from 2015.


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USDA took Trumps comments that China would buy more U.S. soybeans seriously and headline news that the U.S./China trade truce would be extended when Trump/Xi meet in the first week of April was a BIG WIN for soybeans this week! 2026 “Mini” U.S. ethanol boom thanks to 45Z + China’s ban of phosphates from Feb. – August of 2026 will not help lower fertilizer prices anytime soon! 30 mmt of Chinese corn harvest is of poor quality and maybe a technical breakout in wheat futures.

*Apologies! Where we talk about the latest CFTC update as of 10th Feb 2026, managed money funds covered their net short position in canola to the tune of +42,746 week-on-week to flip to net long 145 contracts and not (as we mistakenly said) +90,009 wk/wk to 47,408.