USDA lowered estimates for this year's soybean crop. (Photo: Joclyn Bushman/Iowa Soybean Association)
USDA adjusts soybean yield lower in report
November 9, 2021 | Bethany Baratta
Lower than expected soybean yields in Iowa, Indiana, Ohio and Kansas shifted the USDA’s forecast for the U.S. soybean crop downward.
U.S. soybean production is forecast at 4.42 billion bushels, down 1% (23 million bushels) from the October forecast but up 5% from last year, the U.S. Department of Agriculture said in its World Agricultural Supply and Demand Estimates (WASDE) report today.
Based on conditions as of Nov. 1, yields are expected to average 51.2 bushels per harvested acre, down 0.3 bushel from the October forecast but up 0.2 bushel from 2020. Area harvested for beans in the United States is forecast at 86.4 million acres, unchanged from the previous forecast but up 5% from the previous year.
Soybean prices rallied 51 cents on the CME Group before settling at 35 cents higher.
The USDA estimates 601.2 million bushels of soybeans will be produced in Iowa this year, according to USDA’s crop production report. That’s down from the 611 million bushels estimated in October.
The USDA forecast Iowa soybean production 60 bushels per acre, down 1 bushel per acre from the October estimate.
Ninety-five percent (95%) of Iowa’s soybean crop had been harvested by Nov. 7, USDA’s National Agricultural Statistics Service (NASS) reported in its crop progress report earlier this week. Harvest progress is three days ahead of the five-year average.