The U.S. Department of Agriculture’s estimate of the 2010 soybean crop had no big surprises. The number of acres planted to soybeans in the U.S. is up slightly this season; average yield is down slightly; resulting in a total production of nearly the same level as last season (3.345 billion bushels compared to 3.359 billion bushes in the 2009/10 crop year.

Both the soybean crush and export are anticipated to be lower than last year. Domestic use of soybean meal is returning to previous year’s levels with the improving feed markets. Soybean meal exports are somewhat lower which allows for greater domestic consumption of meal.

We will plan to update this table in one of the fall newsletters. Significant changes could result if the weather in the soybean producing states support greater soybean yields. Greater yields will result in more production and will impact the soybean crush and export values.

Soybean Production Data


(*) Marketing year beginning September 1 for soybeans and October 1 for meal;
(**) Estimates and (***) Projections at this time

Reference: U.S.D.A. Economic Research Service, World Agricultural Supply and
Demand Estimates; WASDE-484, July 9, 2010