Commodities Buzz: USDA Cuts US Soybean Production Estimate On Lower Area And Yield

13 Sep 2022 , 09:29 AM

The US Department of Agriculture, in a monthly report, cut its 2022/2023 U.S. soybean production forecast by 152 million bushels to 4.378 billion bushels, according to the monthly World Agricultural Supply and Demand Estimates report. It cited a lower harvested area and yield. U.S. harvested area was down 0.6 million bushels from the August forecast at 86.6 million acres, while U.S. soybean yield forecast was at 50.5 bushels per acre, down 1.4 bushels from the August forecast, the USDA report showed.Powered by Commodity Insights