Analysis of the August USDA Reports
NASS’s first estimate of the US soybean crop projected a yield of 51.9 BPA, up 0.4 BPA from the July WASDE estimate and 0.5 BPA over last year’s yield. It was also above the average trade estimate of 51 BPA. In the state-by-state estimates, record yields were forecast in IL, IN, and OH, which put…