As of April 23rd, 2023, soybean planting in the US has been going well, with 9% of the planting completed. This is higher than the average for the past five years, which is 4%, and much higher than the same period last year, which was only 3%.
A crop consultant, Dr. Michael Cordonnier, expects that the total soybean planting will be 88 million acres, with 87.1 million acres harvested and a yield of 52 bushels per acre. This would result in a crop of 4.53 billion bushels. The USDA’s estimate for soybean acreage in 2023 is slightly lower at 87.505 million acres.
It’s important to remember that while planting progress is a good indicator of the potential crop size, other factors like weather, disease, and pests can still impact the final yield.
(Source: NDTV )