According to the USDA’s 2024 Crop Production Annual Summary, U.S. corn production declined while soybean production increased.
Corn growers produced 14.9 billion bushels, down 3% from 2023, despite a record-high yield of 179.3 bushels per acre. Harvested corn acreage fell 4% to 82.9 million acres. Soybean production rose 5% to 4.37 billion bushels, with an average yield of 50.7 bushels per acre. As of Dec. 1, 2024, corn stocks declined 1% to 12.1 billion bushels, while soybean stocks increased 3% to 3.10 billion bushels.
