USDA Predicts Record Soybean Crop.

A record number of soybean acres planted this spring is projected to produce a record soybean harvest this fall despite challenging growing conditions across large sections of the Midwest. U.S. soybean production was pegged at 4.38 billion bushels, an increase of 2 percent from last year record setting output of 4.3 billion bushels. Harvested acres were projected at 88.7 million acres, up from 83.5 million in 2016. A record number of soybean acres planted this spring is projected to produce a record soybean harvest this fall despite challenging growing conditions across large sections of the Midwest. The large projected crop could shrink due to worsening drought conditions in key soybean growing regions, including Iowa and North and South Dakota. Iowa soybean harvest is projected at 557 million bushels on a per-acre average of 56 bushels. This is down from last year production of 572 million bushels and a 60.5 bushel-per-acre average. Crop conditions have deteriorated in many locations since the USDA completed its yield assessment.