IARN — In this month’s World Agricultural Supply and Demand Estimates (WASDE), the USDA put out a big estimate for soybeans. They estimated that the United States will produce a record number of soybeans in 2022. While that is good news, it is still just an estimate. However, there was other good news for soybean producers in that WASDE report.
Mac Marshall is on the United Soybean Board (USB) and the U.S. Soybean Export Council (USSEC), where he is the Vice President of Market Intelligence. He says that while a record crop would be amazing, producers should also be happy that USDA upped their export forecast of old crop beans.
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Soybean field and fenceline east of Polk City, Iowa. (Photo by Dustin Hoffmann)
