Pro Farmer forecasts US soybean crop at 129 mln tons in 2024, above the USDA’s figures
The US soybean crop is expected to total 4.74 bln bushels in 2024, or 129 mln tons, with an average yield of 54.9 bushels per acre, the highest in history. The forecast was released on Friday (23) by Pro Farmer, after its traditional crop tour.
The production projection was above that from the United States Department of Agriculture (USDA) in its most recent report (August) of 4.589 bln bushels (124.9 mln tons). USDA is projecting a yield of 53.2 bushels per acre.
The figures from the crop tour confirm the feeling of a full and record US crop, with plantations registering excellent results in most of the main states of the US growing belt. Furthermore, since the yields registered by Pro Farmer were above those estimated by USDA, it is still possible that USDA points to new positive adjustments as the harvest progresses. This possibility deserves increased attention in September and October.
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