March 5, 2007

USDA sees US 2007/08 soy area at 70.5 million acres

US 2007/08 soy planted area is estimated at 70.5 million acres and production is seen at 2.88 billion bushels, according to the US Department of Agriculture, which released its grains and oilseeds outlook Friday (Mar 2) at its annual Agricultural Outlook Forum.

The USDA said soy yields this year are seen at 41.5 bushels per acre.

Regarding demand, the government said soybean crush would be around 1.82 billion bushels while exports are seen at 1.125 billion bushels.

Ending stocks for 2007/08 are seen at 370 million bushels.

In its February baseline report, the USDA estimated 2007/08 planted area at 71 million acres and harvested acreage at 69.9 million. Production for the coming marketing year was estimated at 2.9 billion bushels, with yields seen at 41.5 bushels per acre. Exports were seen at 1.150 billion bushels, and ending stocks were estimated at 355 million bushels.

In 2006/07, soy planted acreage was 75.6 million acres, with harvested area at 74.5 million. Production in that marketing year was 3.204 billion bushels and yield was 43.0 bushels an acre. Soy exports were 1.145 billion bushels in 2006/07, while ending stocks were 565 million bushels.