USDA increase 2023 soybean forecast
SOURCE: USDA
November 28, 2023
BY Erin Voegele
The USDA on Nov. 9 announced 2023 soybean production for beans is currently forecast at 4.13 billion bushels, up 1 percent from the October forecast, but down 3 percent from last year, according to the agency’s latest Crop Production report.
Based on conditions as of Nov. 1. Yields are expected to average 49.9 bushels per acre, up 0.3 bushels from both the previous forecast and 2022.
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Area harvested for beans in the U.S. is forecast at 82.8 million acres, unchanged from last month’s forecast, but down 4 percent from 2022.
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