U.S. soybean production for the 2025/26 marketing year is forecast at 4.3 billion bushels, up 8 million bushels from the previous month's estimate, according to the United States Department of Agriculture's September Oil Crops Outlook report released Monday.
The increase stems from higher acreage, with harvested area raised by 200,000 acres to 80.3 million, primarily due to expansion in Minnesota. This offsets a slight reduction in the national yield forecast, now at 53.5 bushels per acre, down 0.1 bushels from August.
"As of September 7, 64 percent of soybeans were rated in good-to-excellent condition, compared with 65 percent during the same period last year," the report stated.
The USDA lowered the U.S. soybean export forecast by 20 million bushels to 1.69 billion, citing slow sales amid international competition, particularly from Brazil and Argentina. However, domestic soybean crush is projected at a record-high 2.55 billion bushels, up 15 million from last month due to stronger soybean meal demand.
The season-average farm price forecast for soybeans was reduced by 10 cents to $10 per bushel, while soybean meal and oil prices remained unchanged at $280 per short ton and 53 cents per pound, respectively.
U.S. peanut production reached a record 7.4 billion pounds, up 149 million pounds from the previous forecast on higher harvested acreage and yield. Peanut area harvested increased mainly in Georgia and Texas, with the national average yield up more than 1 percent to 3,890 pounds per acre.
Globally, soybean production is forecast 0.5 million metric tons lower on reduced output in India, the European Union, and Serbia, partially offset by increases in Russia and the United States.
Global rapeseed production was raised 1.4 million metric tons to nearly 91 million, with increases in Canada, Australia, Kazakhstan, and Russia. Meanwhile, global sunflowerseed production increased 0.2 million metric tons to 55.3 million, primarily due to higher output in Russia and Kazakhstan that offset reductions in the European Union and Ukraine.
