2015/16 U.S. Corn Production Estimate and Projected Use (01292016)
The January 2016 WASDE report published by USDA indicates that U.S. corn production for the 2015/16 marketing year has been estimated at 13.601 billion bushels, 4% down from the record high last marketing year. Historically, 2015/16 corn production is the third largest U.S. corn production (see Figure 1). The 2015/16 area harvested for corn declined 3% to 80.7 million acres compared to the previous year, and the average yield was estimated at 168.4 bushels/acre, down 2.6 bushels/acre from the 2014/15 marketing year.
USDA/NASS data indicate that 2015/16 Iowa corn production was pegged at 2.506 billion bushels, up 6.0% from the previous year and represented 18% of the U.S. corn production, making Iowa the largest corn producer in the country this marketing year. 2015/16 Iowa’s corn harvested area decline 2% to 13.050 million acres compared to 2014/15; Iowa corn harvested area this marketing year comprised 16% of the U.S. total corn harvested area. 2015/16 Iowa corn yield at 192 bushels/acre was up 8% (14 bushels/acre) compared to 2014/15 and represented a record high yield for the state.
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