USDA Crop Production Report Release

Corn Production Up Less Than 1 Percent from October Forecast
Soybean Production Up 2 Percent
Cotton Production Down Less Than 1 Percent
Orange Production Down 5 Percent

Corn production is forecast at 13.7 billion bushels, up less than one percent from the October forecast, but down 4 percent from last year's record production. Based on conditions as of November 1, yields are expected to average 169.3 bushels per acre, up 1.3 bushels from the October forecast but 1.7 bushels below the 2014 average. If realized, this will be the second highest yield and third largest production on record for the United States. Area harvested for grain is forecast at 80.7 million acres, unchanged from the October forecast but down 3 percent from 2014.

Soybean production is forecast at a record 3.98 billion bushels, up 2 percent from October and up 1 percent from last year. Based on November 1 conditions, yields are expected to average 48.3 bushels per acre, up 1.1 bushels from last month and up 0.8 bushel from last year. Area for harvest in the United States is forecast at 82.4 million acres, unchanged from last month.

All cotton production is forecast at 13.3 million 480-pound bales, down less than 1 percent from last month and down 19 percent from last year. Yield is expected to average 782 pounds per harvested acre, down 56 pounds from last year. Upland cotton production is forecast at 12.8 million 480-pound bales, down 19 percent from 2014. Pima cotton production, forecast at 451,000 bales, was carried forward from last month.

The United States all orange forecast for the 2015-2016 season is 5.50 million tons, down 5 percent from the previous forecast and down 14 percent from the 2014-2015 final utilization. The Florida all orange forecast, at 74.0 million boxes (3.33 million tons), is down 8 percent from last month's forecast and down 24 percent from last season's final utilization. Early, midseason, and Navel varieties in Florida are forecast at 37.0 million boxes (1.67 million tons), down 8 percent from last month and down 22 percent from last season's final utilization. The Florida Valencia orange forecast, at 37.0 million boxes (1.67 million tons), is down 8 percent from last month and down 25 percent from last season's final utilization. California and Texas orange production forecasts were carried forward from the previous forecast.

Florida frozen concentrated orange juice (FCOJ) yield forecast for the 2015-2016 season is 1.58 gallons per box at 42.0 degrees Brix, down 2 percentfrom the October forecast but up 5 percent from last season's final yield of 1.50 gallons per box. Projected yield from the 2015-2016 non-Valencia andValencia varieties will be published in the January Crop Production report. All projections of yield assume the processing relationships this season will be similar to those of the past several seasons.

Source: USDA