The jury is still out on whether or not August rains helped the soybean crop in the corn belt. Don Schafer, Soybean Marketing Manager for DuPont Pioneer says it’s totally dependent on the crop stage of the beans. He says the rains won’t add any pods to the plants and generally pods counts have been down.
Some early reports indicated small soybean seed size where it was extremely dry. Schafer says seed size is going to vary greatly.
The private estimates on U.S. soybean production range anywhere from 2.4 to 2.7 billion bushels.