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Record U.S. Soybean Harvest Seen

WASHINGTON - Oct 12/06 - SNS -- Soybean production is forecast at a record 3.19 billion bushels, up 3% from the September forecast and up 4% from the 2005 crop, according to the USDA's latest crop production estimates.

The USDA number is slightly below the average pre-report guess by traders. The average soybean production estimate prior to release of the report was 3.213 billion bushels. Guesses ranged between 3.155 and 3.326 billion bushels.

Based on October 1 conditions, yields are expected to average 42.8 bushels per acre, up 1.0 bushel from September but down 0.2 bushel from last year's record high yield. Compared with last month, yield forecasts are unchanged or higher in all States except South Dakota.

The States with the largest expected increase from September are Illinois and Virginia, both up 3.0 bushels from last month. Timely rains and cooler temperatures improved yield expectations in the central and northern Corn Belt.


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