October 15, 2024

US soybean production poised to hit record high

US soybean production is expected to reach a record 4.58 billion bushels, according to the latest Crop Production report from the US Department of Agriculture's National Agricultural Statistics Service (NASS), Biomass Magazine reported.

Although the forecast is slightly lower than the September outlook, the projected figure represents a 10% increase compared to last year's production levels in 2023.

As of October 1, 2024, the average yield for soybeans is expected to reach a record 53.1 bushels per acre. This marks a slight decrease of 0.1 bushels from the previous forecast, but an increase of 2.5 bushels compared to 2023.

The total area harvested for soybeans remains forecast at 86.3 million acres, unchanged from the previous outlook. However, this represents a 5% increase from the area harvested in 2023.

-      Biomass Magazine