Farmers planting soybeans this year may be in for a rough year, price wise. The USDA is projecting that due to large supply, prices will be down. USDA Outlook Board Chairman Mark Jekanowski says soybean production is expected up around the world, with the U. S. crop the second biggest ever. We’ll export more beans, of course, but, where does that leave U.S. growers?
The U. S. crop is projected to be 4 and a half billion bushels. That price is down over 11% over this past year. The USDA is hoping to find and open new markets for American farmers to sell their crops to. They say actual exports could vary due to changing weather conditions around the world and other factors.
