July 1, 2008


USDA sees more harvested soy acres


US farmers will be harvesting more acres of soy than they did last year, although recent Midwest flooding is expected to take a toll on production, the USDA said Monday.


US farmers are now forecast to harvest soy from 72.1 million acres out of the 74.5 million acres planted in 2008, according to USDA's annual Acreage report.


The planted acreage is a 17-percent increase from last year, while the harvested acres are up just 15 percent.


Most of the data compiled for the acreage report was compiled before June flooding in the Midwest, but a brief, three-day follow-up survey was conducted last week to get some idea of the flood damage in key producing states such as Iowa. The percentage of planted acres expected to be harvested dropped to 96.8 percent from 98.7 percent after the follow-up survey, the USDA said.


A more extensive follow-up survey is scheduled for July and those results will be released in August.

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