USDA Projects Soybean Supply, Demand, Price Outlook
Wednesday, February 29th, 2012
The following information was prepared by members of the Wheat, Feed Grains, Rice, and Oilseeds Interagency Commodity Estimates Committees, U.S. Department of Agriculture, and presented at the Agricultural Outlook Forum held in Washington, D.C., last week.
Soybean supplies for 2012/13 are projected at 3,540 million bushels, up 8 percent from 2011/12 as both beginning stocks and production are expected to be larger.
Soybean production is projected 6 percent higher at 3,250 million bushels due to increased harvested area and yield.
Soybean plantings are projected unchanged from 2011 at 75 million acres.
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