USDA: US soybean production falls 4% in 2022

By Erin Voegele | January 12, 2023

The USDA’s National Agricultural Statistics Service released its 2022 Crop Production Annual Summary on Jan. 12, reporting that U.S. soybean production for 2022 reached 4.28 billion bushels, down 4 percent from 2021.

According to the USDA, the average soybean yield is estimated at 49.5 bushels per acre, 2.2 bushels below 2021 and 0.7 bushels below the Nov. 1 forecast.

The USDA’s Grain Stocks report shows that soybean stocks as of Dec. 1, 2022 were down 4 percent when compared to the same date of 2021. Soybeans stored in all positions was at 3.02 billion bushels.