When USDA’s National Agriculture Statistics Service released their October crop reports today, they indicated that U.S. peanut production is now forecast at 5.77 billion pounds, up slightly from the September forecast, but still down 19 percent from last year’s 7.12 billion pounds. The harvested area this year is expected to total 1.38 million acres, down slightly from the September forecast and down 22 percent from 2017.
Based on conditions as of October 1, the average yield for the U.S. is forecast at 4,167 pounds per acre, up 16 pounds per acre from September and up 160 pounds per acre from the 2017 average yield of 4,007 pounds per acre. Record high yields are forecast in Alabama and Florida. In Alabama, the forecasted yield is 4000 pounds per acre, in Florida 4100 pounds per acre, while in Georgia peanut production is forecast at 4500 pounds per acre.
Looking at other crops, corn production is forecast at 14.8 billion bushels, down slightly from the September forecast but up 1 percent from last year. Based on conditions as of October 1, yields are expected to average 180.7 bushels per acre, down slightly from the September forecast, but up 4.1 bushels from 2017. If realized, this will be the highest yield and second highest production on record for the U.S.
Soybean production is forecast at a record 4.69 billion bushels, down slightly from September, but up 6 percent from last year. Based on October 1 conditions, yields are expected to average a record 53.1 bushels per acre, up slightly from last month but up 3.8 bushels from last year.