date:Aug 15, 2013
projected 46 bushels per acre in Iowa looks a little high. We would concur on both points.
The total soybean crop is pegged at 3.255 billion bushels, the third highest on record. USDA dropped forecast crushings by 20 million bushels and 2013-14 exports by 65 million bushels in this report versus July.
The lower forecast output more than offset the reductions in usage, though, and forced the projected year-end carryout to 220 million bushels. That figure is down from 295 in July but represents