USDA releases 2023/2024 crop production outlook

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NORTH DAKOTA (KXNET) — The USDA has released its U.S. crop production outlook for 2023-2024.

Over the next year, the USDA expects corn outputs to increase by more than 10% with estimations at about 15.3 billion bushels due to improved yield and higher acreage.

The yield projection is about 182 bushels per acre, and the soybean crop is projected at 4.51 billion bushels (up 5% from last year).

The all-wheat production is forecast at 1.65 million bushels, which is up slightly from the previous year. However, this is still below market expectations of a little over 1.8 million bushels.

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