Record Soybean Crop Despite Easing Yields



WASHINGTON - Oct 11/18 - SNS -- Soybean production is forecast at a record 4.69 billion bushels, down slightly from September but up 6% from last year, according to the latest USDA crop production estimates.

Based on October 1 conditions, yields are expected to average a record 53.1 bushels per acre, up 0.3 bushel from last month and up 3.8 bushels from last year. Area for harvest in the United States is forecast at 88.3 million acres, down 1% from September and down 1% from 2017. Acreage updates were made in several States based on a thorough review of all available data.

Acreage updates were made in several States based on a thorough review of all available data. Planted area, at 89.1 million acres, is down 1% from the previous estimate. Area for harvest is forecast at a record 88.3 million acres, down 1% from the September forecast and down 1% from 2017.

The October objective yield data for the combined 11 major soybean-producing States (Arkansas, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Ohio, and South Dakota) indicate a record high pod count compared to the previous year. Compared with final counts for 2017, pod counts are up in 8 of the 11 published States. An increase of more than 200 pods per 18 square feet from 2017's final pod count is expected in Illinois, Indiana, Iowa, Nebraska, Ohio, and South Dakota.