STAT Communications Ag Market News

Soybean Crop 10% Higher Than 2023

WASHINGTON - Sep 12/24 - SNS -- Soybean production for beans is forecast at a record high 4.59 billion bushels, down slightly from the previous forecast but up 10% from 2023, according to the latest USDA production forecasts.

Based on conditions as of September 1, yields are expected to average a record high 53.2 bushels per acre, unchanged from the previous forecast but up 2.6 bushels from 2023. If realized, this would be the highest yield on record for the Nation.

Acreage harvested for beans is forecast at 86.3 million acres, unchanged from the previous forecast but up 5% from last year.

The September objective yield data for the combined 11 major soybean-producing States (Arkansas, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Ohio, and South Dakota) indicate a lower pod count compared with the previous year. Compared with final counts for 2023, pod counts are down in 9 of the 11 published States. South Dakota showed the greatest decrease, down 299 pods per 18 square feet from the previous year.


Soybeans for Beans Area Planted and Harvested - States and United States: 2023 and 2024
[Includes updates to planted and harvested area previously published]
------------------------------------------------------------------------------------------
                  :           Area planted            :          Area harvested
       State      :-----------------------------------------------------------------------
                  :      2023       :      2024       :      2023       :     2024 1/
------------------------------------------------------------------------------------------
                  :                              1,000 acres
                  :
Alabama ..........:        350               360               345               355
Arkansas .........:      2,980             3,050             2,950             3,020
Delaware .........:        150               155               148               153
Georgia ..........:        160               170               155               165
Illinois .........:     10,350            10,800            10,300            10,750
Indiana ..........:      5,500             5,800             5,480             5,780
Iowa .............:      9,950            10,050             9,880             9,970
Kansas ...........:      4,430             4,530             4,030             4,480
Kentucky .........:      1,830             2,050             1,820             2,040
Louisiana ........:      1,030             1,100               980             1,060
                  :
Maryland .........:        470               495               460               485
Michigan .........:      2,040             2,190             2,030             2,180
Minnesota ........:      7,350             7,400             7,280             7,330
Mississippi ......:      2,180             2,300             2,130             2,270
Missouri .........:      5,600             5,900             5,520             5,830
Nebraska .........:      5,250             5,300             5,180             5,250
New Jersey .......:        100               105                98               103
New York .........:        350               370               340               365
North Carolina ...:      1,640             1,630             1,630             1,620
North Dakota .....:      6,200             6,650             6,160             6,600
                  :
Ohio .............:      4,750             5,050             4,730             5,030
Oklahoma .........:        460               505               410               455
Pennsylvania .....:        570               610               560               600
South Carolina ...:        395               390               385               380
South Dakota .....:      5,100             5,450             5,070             5,400
Tennessee ........:      1,600             1,830             1,570             1,800
Texas ............:        125               100                85                80
Virginia .........:        580               610               570               600
Wisconsin ........:      2,110             2,150             2,060             2,120
                  :
United States ....:     83,600            87,100            82,356            86,271
------------------------------------------------------------------------------------------
1/ Forecasted.
Soybeans for Beans Area Harvested, Yield, and Production - States and United States: 2023
and Forecasted September 1, 2024
-------------------------------------------------------------------------------------------
                 :  Area harvested   :         Yield per acre          :    Production
                 :-------------------------------------------------------------------------
      State      :         :         :         :         2024          :         :
                 :  2023   :  2024   :  2023   :-----------------------:  2023   :  2024
                 :         :         :         : August 1  :September 1:         :
-------------------------------------------------------------------------------------------
                 :    1,000 acres       --------- bushels ---------     -- 1,000 bushels --
                 :
Alabama .........:    345       355     43.0       37.0        33.0        14,835    11,715
Arkansas ........:  2,950     3,020     54.0       57.0        55.0       159,300   166,100
Delaware ........:    148       153     46.0       41.0        47.0         6,808     7,191
Georgia .........:    155       165     43.0       43.0        44.0         6,665     7,260
Illinois ........: 10,300    10,750     63.0       66.0        65.0       648,900   698,750
Indiana .........:  5,480     5,780     61.0       62.0        63.0       334,280   364,140
Iowa ............:  9,880     9,970     58.0       61.0        63.0       573,040   628,110
Kansas ..........:  4,030     4,480     26.0       38.0        39.0       104,780   174,720
Kentucky ........:  1,820     2,040     55.0       55.0        52.0       100,100   106,080
Louisiana .......:    980     1,060     40.0       49.0        52.0        39,200    55,120
                 :
Maryland ........:    460       485     47.0       46.0        47.0        21,620    22,795
Michigan ........:  2,030     2,180     46.0       49.0        50.0        93,380   109,000
Minnesota .......:  7,280     7,330     48.0       49.0        49.0       349,440   359,170
Mississippi .....:  2,130     2,270     56.0       58.0        58.0       119,280   131,660
Missouri ........:  5,520     5,830     48.0       51.0        50.0       264,960   291,500
Nebraska ........:  5,180     5,250     51.5       59.0        59.0       266,770   309,750
New Jersey ......:     98       103     43.0       34.0        41.0         4,214     4,223
New York ........:    340       365     51.0       51.0        53.0        17,340    19,345
North Carolina ..:  1,630     1,620     38.5       36.0        36.0        62,755    58,320
North Dakota ....:  6,160     6,600     35.5       36.0        38.0       218,680   250,800
                 :
Ohio ............:  4,730     5,030     58.0       59.0        55.0       274,340   276,650
Oklahoma ........:    410       455     26.0       30.0        26.0        10,660    11,830
Pennsylvania ....:    560       600     47.0       45.0        46.0        26,320    27,600
South Carolina ..:    385       380     39.0       38.0        37.0        15,015    14,060
South Dakota ....:  5,070     5,400     44.0       47.0        47.0       223,080   253,800
Tennessee .......:  1,570     1,800     51.0       49.0        46.0        80,070    82,800
Texas ...........:     85        80     25.0       38.0        39.0         2,125     3,120
Virginia ........:    570       600     38.0       43.0        43.0        21,660    25,800
Wisconsin .......:  2,060     2,120     51.0       53.0        54.0       105,060   114,480
                 :
United States ...: 82,356    86,271     50.6       53.2        53.2     4,164,677 4,585,889
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