USDA predicts 5% increase in soybean production
August 18, 2021
BY Erin Krueger
The USDA’s National Agricultural Statistics Service released a Crop Production report on Aug. 12 predicting that soybean production will be up 5 percent when compared to last year. Soybean yields are expected to be slightly lower.
The USDA currently predicts soybean production will reach 4.34 billion bushels this year, up 5 percent when compared to 2020. U.S. farmers planted an estimated 87.6 million acres of soybeans this year, up 5 percent from last year. The USDA expects 86.7 million acres will be harvested.
Soybean yields are expected to average 50 bushels per acre, down 0.2 bushels from 2020. If realized, the forecasted yields in Illinois, Indiana, Maryland, Mississippi, Missouri, New York, Ohio, Pennsylvania and Texas will be record highs.
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