2023 USDA forecast: 1% decrease in US corn production, 10% increase in soybean production.

US corn and soybean prices fluctuate, leading farmers to consider planting more soybeans in Indiana, but Purdue's Chad Fiechter advises a long-term view. The USDA's National Agricultural Statistics Service forecasts a 1% decrease in US corn production to 15.1 billion bushels, while soybean production is expected to increase by 10% to 4.59 billion bushels in 2023. The US is predicted to have record high average corn and soybean yields.

August 18, 2024
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