Soybean Crop likely to Exceed July Estimate. 07/29/2020

A model that forecasts the National average soybean yield based on late July conditions projects a yield of just under 51 bushels per harvested acre compared to USDA’s July estimate of just under 50 bushels. Holding usage constant would put the 2020/2021 carryout at 480+ bushels compared to the USDA’s July estimate of 425 million bushels. Weather during the first two weeks of August can have a significant impact on soybean yields especially in the Delta.