USDA: Record Soybean, Near-Record Corn Crops in 2018
In 2018, 4.54 billion bushels of soybeans were produced
The record production was grown on fewer acres (down 2% from 2017) but with a higher yield (an average of 51.6 average bushels/acre, up 2.3 bushels from 2017).
Analysts predict producers will plant fewer acres of soybeans this year.
USDA also reported 14.4 billion bushels of corn from U.S. producers in 2018, down slightly from the anticipated figures released in 2017.