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Washington Evening Journal
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National soy production up, Iowa’s down as prices climb
DES MOINES — Experts expect a slight increase in nationwide production of soy compared to last year, despite a slight decrease in planted acres around the country.
“Soybean production for beans is forecast at a record high 4.53 billion bushels, up 2% from 2021,” a report from the U.S. Department of Agriculture said. “Based on conditions as of Aug. 1, yields are expected to average a record high 51.9 bushels per harvested acre, up 0.5 bushel from 2021.”
The same cannot be said for Iowa, however, according to the same report.
“Soybean production is forecast at 593 million bushels, down 5% from the previous year," a state-specific section of the report said. “The yield is forecast at 58.0 bushels per acre, 4.0 bushels lower than 2021.”
In 2013, the 12-month average prices of corn and soy in Iowa simultaneously peaked at $7.09 and $14.76 per bushel, respectively. An August report from the Iowa Legislative Services Agency said both averages remained narrowly below those levels, but showed monthly prices lingering above the line and rising.
“Soybean prices increased to $16.20 per bushel in June 2022 compared to $15.90 in May,” the report said. “Through June 2022, the 12-month average price of soybeans increased, compared to May, to $13.91, down $0.85 (5.8%) from the 2013 peak.”
Comments: Kalen.McCain@southeastiowaunion.com
A field of soybeans in a rural area of Washington County. (Kalen McCain/The Union)
A graph of Iowa soybean prices over the years. The red line shows monthly costs of soybeans per bushel, the black line shows 12-month averages. Courtesy of the Iowa Legislative Services Agency, using data from the U.S. Department of Agriculture, National Agricultural Statistics Service.
