USDA: US soybean production falls 4% in 2022
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The USDA’s National Agricultural Statistics Service released its 2022 Crop Production Annual Summary on Jan. 12, reporting that U.S. soybean production for 2022 reached 4.28 billion bushels, down 4 percent from 2021.
According to the USDA, the average soybean yield is estimated at 49.5 bushels per acre, 2.2 bushels below 2021 and 0.7 bushels below the Nov. 1 forecast.
The USDA’s Grain Stocks report shows that soybean stocks as of Dec. 1, 2022 were down 4 percent when compared to the same date of 2021. Soybeans stored in all positions was at 3.02 billion bushels.
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