September 12, 2023
BY Erin Krueger
The USDA’s National Agricultural Statistics Service predicts soybean production for 2023 will fall to 4.15 billion bushels, down 3 percent from last year, according to the agency’s latest Crop Production report, released Sept. 12.
Planted area for soybean is currently estimated at 83.6 million acres, up slightly from the previous estimate.
Area for soybean harvest is forecast at 82.8 million acres, up slightly from last month but 4 percent less than was harvested last year. Planted area for the nation, estimated at 83.6 million acres, is down 4 percent from last year. Soybean yields are expected to average 50.1 bushels per acre, down 0.8 bushel from last month’s forecast but up 0.6 bushel from 2022. If realized, the forecasted yields in Arkansas, Indiana, Kentucky, Mississippi, New York, Ohio, and Tennessee will be record high.
Advertisement
Advertisement
Advertisement
Advertisement
The USDA significantly increased its estimate for 2025-’26 soybean oil use in biofuel production in its latest World Agricultural Supply and Demand Estimates report, released July 11. The outlook for soybean production was revised down.
U.S. fuel ethanol capacity fell slightly in April, while biodiesel and renewable diesel capacity held steady, according to data released by the U.S. EIA on June 30. Feedstock consumption was down when compared to the previous month.
The U.S. EPA on July 8 hosted virtual public hearing to gather input on the agency’s recently released proposed rule to set 2026 and 2027 RFS RVOs. Members of the biofuel industry were among those to offer testimony during the event.
The USDA’s Risk Management Agency is implementing multiple changes to the Camelina pilot insurance program for the 2026 and succeeding crop years. The changes will expand coverage options and provide greater flexibility for producers.
The USDA’s National Agricultural Statistics Service on June 30 released its annual Acreage report, estimating that 83.4 million acres of soybeans have been planted in the U.S. this year, down 4% when compared to 2024.