USDA Agricultural Outlook Forum: 2022 U.S. soybean production projected at 4.49 billion bushels

WASHINGTON, Feb. 24 News: The 2022/23 supply and demand forecast data released by the U.S. Department of Agriculture on Thursday at the annual Agricultural Outlook Forum showed that the U.S. soybean planting area is expected to be 88 million acres in 2022, and soybean production is expected to be 4.49 billion bushels. Average yield It is expected to be 51.5 bushels per acre.

In 2022/23 (September-August), U.S. soybean exports are expected to be 2.15 billion bushels, domestic crush is 2.25 billion bushes, and soybean ending stocks at the end of August 2023 are expected to be 305 million bushes.

The U.S. Department of Agriculture expects U.S. soybean farm prices to average $12.75 a bushel in 2022/23.