The latest U.S. crop production predictions are out.
The report was released Aug. 12 by the National Agricultural Statistics Service (NASS) and the USDA.
The report states that corn production is expected to be higher than 2015 by 11 percent and soybeans up 3 percent.
Corn production is forecast at 15.2 billion bushels, up 11 percent from last year.
Based on conditions as of Aug. 1, yields are expected to average 175.1 bushels per acre, up 6.7 bushels from 2015.
If farmers achieve these yields, this will be the highest yield and production on record for the United States.
Area harvested for grain is forecast at 86.6 million acres, unchanged from the June forecast, but up 7 percent from 2015.
Soybean production is forecast at a record 4.06 billion bushels, up 3 percent from last year.
Based on Aug. 1 conditions, yields are expected to average a record 48.9 bushels per acre, up 0.9 bushel from last year.
Area for harvest in the United States is forecast at a record 83.0 million acres, unchanged from the June forecast but up 1 percent from 2015.
Planted area for the country is estimated at a record 83.7 million acres, also unchanged from June.
The crop production report also showed that cotton production is expected to be up 23 percent and winter wheat production will be up two percent from the July forecast.