USDA predicts record high soybean production, yields
August 12, 2024
BY Erin Voegele
U.S. soybean production for 2024 is currently forecast at a record high 4.59 billion bushels, up 10% from last year, according to the Crop Production report released by the USDA National Agricultural Statistics Service on Aug. 12.
Based on conditions as of Aug. 1, soybean yields are expected to average a record high 53.2 bushels per acre, up 2.6 bushels from last year. If realized, the forecasted yields in Arkansas, Illinois, Indiana, Mississippi, Missouri and Ohio will be record highs.
Areas harvested for beans in the U.S. is forecast at 86.3 million acres, up 15 from the previous forecast and up 5% from 2023.
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As of Aug. 4, 68% of soybean acreage was reported to be in good or excellent condition, compared to 54% at the same time last year.
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