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Minnesota grows 390 million bushel soybean crop in ’18

Minnesota fell in line with the nation by growing a record soybean crop in 2018.

The USDA says the state produced nearly 390 million bushels on an estimated 7.7 million acres.  The final yield of 50.5 bushels per acre is three bushels higher than 2017.

University of Minnesota grain marketing economist Ed Usset says the overall soybean carryout of 910 million bushels is weighing on the market.

“That’ll take your breath away, even though it’s modestly smaller than the last report that came out in December. 910 million bushels in soybeans is one heck of a lot of soybeans.”

The 2018 U.S. soybean crop is estimated at an unprecedented 4.5 billion bushels.

USDA pegs corn production last year in Minnesota at 1.36 billion bushels on an average yield of 182, both lower than 2017.