STAT Communications Ag Market News

Record Soybesn Crop in Making

WASHINGTON - Aug 12/10 - SNS -- Soybean production is forecast at a record high 3.43 billion bushels, up 2% from last year, according to the latest crop production estimate from the USDA.

Based on August 1 conditions, yields are expected to average 44.0 bushels per acre, unchanged from last year's record high yield. Compared with last year, yields are forecast higher across the northern tier States, with increases of 4 bushels or more in Minnesota, North Dakota, Pennsylvania, and Wisconsin. The largest increase in yield from 2009 is expected in Texas, where the yield is forecast to be up 9 bushels from last year.

In addition, increases are expected in the Delta States. With the exceptions of Illinois and South Carolina, yields are forecast down or unchanged across the central part of the soybean growing region, extending from the central Great Plains to the East Coast and down into the Southeast. The Mid-Atlantic States are expecting the largest declines from last year, as Delaware, Maryland, and Virginia are all expecting yields to be down more than 10 bushels from 2009 due to very hot and dry weather this summer. If realized, the forecasted yield in New York will be a record high and the forecasted yield in Arkansas will tie the previous record high. Area for harvest in the United States is forecast at 78.0 million acres, unchanged from June but up 2% from 2009.

Area for harvest is forecast at 78.0 million acres, unchanged from June but up 2% from 2009. Harvested area, if realized, will be the largest on record.

Soybean planting got off to a good start this season as conditions were much improved compared with last year. The month of May began with planting in all States at or ahead of last year's pace and, with the exception of Louisiana, at or ahead of their 5-year average. During mid-May, several soybean-growing areas received cool, wet weather, but significant progress was made in many areas during the last week of May. As of May 30, planting progress had reached 74% complete, only one point behind normal, but 11 percentage points ahead of last year. During June, there were several heavy storms that moved through soybean-growing areas, slowing planting progress. Rainfall was particularly heavy at times in parts of the Central and Southern Great Plains, and the western Corn Belt. By June 27, ninety-seven% of the soybean crop was planted, 2 points ahead of last year but equal to the 5-year average.

Emergence of the soybean crop began ahead of both normal and last year's pace, and remained very close to normal and a few points ahead of last year's pace throughout May and June. Soybeans reached 97% emerged by July 4, equal to the 5-year average but 2 points ahead of last year. Blooming progress for soybeans followed a very similar pattern to emergence progress, remaining several points ahead of last year but in line with the normal pace. As of August 1, eighty-six% of the Nation's crop was blooming, 3 points ahead of normal and 12 points ahead of last year. Fifty-three% of the acreage was setting pods by August 1, five points ahead of normal and 20 points ahead of last year.

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