USDA is estimating U.S. soybean production at 3.6 billion bushels, down 165 million bushels on lower harvested area. That’s on a soybean yield of 48.5 bushels per acre, unchanged from last month. Soybean planted acres are projected at 76.7 million, with harvested area forecast at 75.9 million acres. That’s down 3.4 million from the June acreage report. USDA says Ohio and South Dakota both had large reductions and these states account for almost half of national production.
