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Production projected to grow for four major U.S. crops: corn, soybeans, wheat, and cotton

Line chart reflecting production in billion bushels (left y-axis) and millions of bales (for cotton, right y-axis) for corn, soybean, wheat, and upland cotton, for marketing years 2010/11 to 2022/23 with projections for 2023/24 to 2031/32.

After climbing in recent months amid unstable global economic and market circumstances, nominal prices for U.S. soybeans, wheat, corn, and cotton are projected to decline in the near term and move to more historical levels in the next 10 years. Yields and area growth over that time are expected to boost production and exports for corn, cotton, and soybeans and hold production and exports for wheat relatively stable.

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