Keep up-to-date with the latest U.S. Soy news.
Richard Galloway
The latest projection released by the United States Department of Agriculture (USDA) promises a plentiful supply of soybeans through 2018 and projections show crops breaking records1.In its September 12 report, the USDA increased the soybean yield by 0.5 bushels per acre while keeping harvested acreage unchanged. This results in a projection of the soybean crop at 4,431 million bushels, almost 3 percent greater than last year’s previous record1. In its August World Agricultural Supply and Demand Estimates (WASDE) report, the USDA projected soybean prices to trade in a range with a midpoint of $9.20 per bushel, about the same as the previous two years2.
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1 “Crop Production.” https://www.usda.gov/nass/PUBS/TODAYRPT/crop0917.pdf United States Department of Agriculture. September 12, 2017,2 “World Agricultural Supply Demand Estimates.” https://www.usda.gov/oce/commodity/wasde/latest.pdf United States Department of Agriculture. September 12, 2017.3 The National Biodiesel Board. “Commerce Department Rules in Favor of US Producers in Trade Dispute.” Biodiesel Magazine. August 22, 2017. http://www.biodieselmagazine.com/articles/2516127/commerce-dept-rules-in-favor-of-us-producers-in-trade-dispute4 “Analysis of the U.S. Biodiesel and Renewable Diesel Market.” Genscape. July 27, 2017. http://www.genscape.com/blog/analysis-us-biodiesel-and-renewable-diesel-market-genscape-and-playmaker-strategies
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