USDA Forecasts Large Soybean Crop

U.S. farmers successfully battled soggy July weather and remained on target for producing the largest soybean crop in history, according to the Crop Production report, released recently by USDA’s National Agricultural Statistics Service (NASS). Soybean production is forecast at a record-high, 3.2 billion bushels, up 8% from last year. Yield is expected to average 41.7 bushels per acre, up 2.1 bushels per acre from 2008. If realized, this will be the fourth largest soybean yield on record.

All cotton production is forecast at 13.2 million bales, up 3% from last year. Yield is expected to average 816 pounds per harvested acre, up 3 pounds from last year. Producers expect to harvest 7.77 million acres of all cotton, up 3% from last year.

Winter wheat production is forecast at 1.54 billion bushels, up 1% from the July 1 forecast, but down 18% from 2008. Based on August 1 conditions, the U.S. yield is forecast at 44.2 bushes per acre, up from last month, but 3 bushels below last year. Harvest in 18 major producing states was 85% complete by August 2.

The August Crop Production report contains NASS’s first estimates of yield and production for corn, soybeans and other spring-planted row crops. Nearly 28,000 producers in major producing states, which usually account for about 75% of the U.S. production, were interviewed to obtain probable yield. These growers will continue to be surveyed throughout the growing season to provide indications of average yields.