Record Soybean Crop Still Likely

WASHINGTON - Oct 8/10 - SNS -- Soybean production is forecast at a record high 3.41 billion bushels, down 2% from September but 1% above last year, according to the latest USDA crop production esimates.

Based on September 1 conditions, yields are expected to average a record high 44.4 bushels per acre, down 0.3 bushel from last month but up 0.4 bushel from last year. Compared with last month, yields are forecast lower or unchanged in all major-producing States except Illinois, Kentucky, Louisiana, Michigan, New York, and Wisconsin. The largest decreases in yield from last month are expected in North Carolina and Virginia, down 5 and 4 bushels, respectively.

If realized, the forecasted yields in Illinois, Louisiana, Nebraska, New York, North Dakota, and Wisconsin will be record highs and the forecasted yield in Minnesota will tie the previous record high. Area for harvest in the United States is forecast at 76.8 million acres, down 1% from the previous estimate but up 1% from 2009. Acreage updates were made in several States based on administrative data.

Acreage updates were made in several States based on administrative data. Planted area, at 77.7 million acres, is down 1.15 million acres from June. Area for harvest is forecast at 76.8 million acres, down 1% from last month but up 1% from 2009. Harvested area, if realized, will be the largest on record.