USDA is projecting a record soybean crop this year. It is good for supplies, but it is putting a strain on prices.
The American Soybean Association says it is still too soon to know any final numbers.
“Places through the Plains that we’ve seen really struggle last year have gotten that rainfall. So USDA is projecting a record crop with a record yield at 53.2 bushels per acre currently. I mean, also, it’s a little bit early to know what the final number is going to be. But, you look at yield estimates at this point, you know we’re looking at a really strong crop, which is great for filling the bins. But we’ve also seen that put a lot of downward pressure on prices,” said Dr. Scott Gerlt.
Soybean harvest is moving along nicely in the nation with 47 percent of this year’s soybean crop in the bin.
