The 2016 USDA National Ag Statistics Service (NASS) just released their subjective forecast. The 2016 estimate listed is 2.0 billion pounds. This is based on their recently updated bearing acreage figure of 900,000 acres, and a forecasted 2016 yield per acre of 2,220 lbs. Compared with last year’s actual production of 1.89 billion pounds, a 2.0 billion pound crop would be a 5.8% increase in production. When comparing yields per acre, the forecasted yield of 2,220 lbs/acre vs. 2,120 lbs/acre achieved in 2015, would represent a 4.7% increase in production per acre.
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