The National Agricultural Statistics Service of USDA released on Friday its 2012 Crop Production Annual Summary, showing a total production of 3.01 billion bushels, the seventh largest crop in U.S. history. According to the report, "Soybean production in 2012 totaled 3.01 billion bushels, up 1 percent from the November 1 forecast but down 3 percent from 2011… The average yield per acre is estimated at 39.6 bushels, 0.3 bushel above the November 1 forecast but 2.3 bushels below last year’s yield. Harvested area is up 3 percent from 2011 to 76.1 million acres and is the third highest on record."

For the full Crop Production Annual Summary, please click here.