August 13, 2009
US 2009 soy production at 3.2 billion bushels
The US Department of Agriculture, in its first survey-based forecast for US soy production this year, said farmers will produce "a record high" 3.199 billion bushels.
That's an 8 percent increase over 2008 production but also a decrease from the department's July prediction, according to two new reports released Wednesday (August 12).
US soy production last year totalled 2.959 billion bushels, according to the USDA's World Agricultural Supply and Demand Estimates report. The July forecast for 2009 production was for 3.26 billion bushels.
The USDA lowered its average soy yield forecast for 2009 to 41.7 bushels per acre, down from the July forecast of 42.6 bushels per acre.
But yields are still high compared to last year, the USDA said in its monthly Crop Production report, which was also released Wednesday.
If the latest yield forecast pans out, "this will tie for the fourth highest yield on record," the USDA said in the Crop Production report. "With the exception of Illinois, yields are forecast higher or unchanged from last year across the corn belt and Great Plains."
