Soybean yield is estimated at 41.8 bu. per acre for a total of 3.09 billion bushels with a midpoint price of $13.65, according to USDA’s Sept. 12 Crop Production report.
The key to maintaining the higher price is whether China continues to import at high levels. Chad Hart, ag economist at Iowa State University, believes China will continue to be a strong buyer of U.S. soybeans, although at a reduced rate.
- October 2011