Soybeans Update – October 6, 2017

CropProphet forecasts for U.S. soybeans ended on October 2, when weather and satellite data were fully updated for the month of September. Although the crop is not yet completely mature in some growing districts, there is little room for change in overall national soybean prospects, and CropProphet does not continue to refine the yield and production forecasts based on harvest data.

Recent weeks have seen some deterioration in the soybean forecasts, especially in Illinois and Indiana, where dry and extremely warm early autumn conditions have occurred. CropProphet now expects a U.S. yield of 48.2 bushels per acre, which is considerably lower than the September USDA estimate of 49.9 bushels per acre. The USDA estimates will be revised in the October 12 crop production report and then modified further in subsequent months as final harvest information becomes available.