The USDA’s Nationwide Agricultuiral Statistics Service launched its newest quarterly Grain Shares report on Sept. 29, reporting that previous crop soybeans saved in all positions on Sept. 1 have been down 2 % when in comparison with the identical time final 12 months.
Soybean shares saved on farms totaled 72 million bushels, up 14 % from a 12 months in the past. Off-farm shares have been at 196 million bushels, down 7 % from the identical time final 12 months. Indicated disappearance for June-August totaled 528 million bushels, down 24 % when in comparison with the identical three-month interval of 2022.
The estimate for 2022 soybean manufacturing was revised down 5.93 million bushels from the earlier estimate. NASS mentioned the adjustment relies on an evaluation of end-of-marketing 12 months inventory estimates, disappearance information for exports and crushings, and farm program administrative information. The estimate for planted space was unchanged at 87.5 million acres, however harvested acres was revised to 86.2 million acres. The 2022 yield, at 49.6 bushels per acre, was revised up 0.1 bushel from the earlier estimate.
