USDA Crop Report Raises Soybean Production to Record
By Kristina Zurla Landgraf • Sep 11th, 2009 • Category: Educational, Market UpdatesThe U.S. Department of Agricuture’s crop report was released today, with soybean production forecast at a record high of 3.25 billion bushels, and corn forecast at 13.0 billion bushels. The USDA said that based on conditions as of September 1, soybean yields are expected to average 42.3 bushels per acre, up 0.6 bushel from August and up 2.7 bushels from 2008. If realized, it would mark the third-highest yield on record. Corn yields are expected to average 161.9 bushels per acre, up 2.4 bushels from August and 8.0 bushels above last year. If realized, it would be the highest yeild on record and production would be the second-largest, behind 2007. Read the USDA release.
Table below courtsey of MF Global Research.
