The September crop report published by the U.S. Department of Agriculture (USDA) indicated reduced soybean acreages, anticipated yields and total production values compared to last crop year (2010/2011).  Soybean production is reduced by 7.3 percent and meal production is anticipated to be about 2.1 percent lower, resulting in reduced domestic soybean meal use levels and exports compared to the 2010/2011 crop year.  The end results are relatively high soybean and soybean meal prices; USDA estimates the average meal price will be in the range of $360-390 dollar per short ton.  Better estimates for the 2011/2012 crop year will be available later this year and will be included in a subsequent issue of the Soybean INFOsource newsletter.

U.S. Soybeans and Products Supply and Use(*)



(*) 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-498, September 8, 2011