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Missouri Soybean Prices to Fall to Record Low with Yields at a Record High

Kristofor Husted / KBIA

Missouri soybean farmers will likely see low prices due to a bumper crop this year.

The US Department of Agriculture is projecting record high soybean yields of 51.6 bushels per acre for Missouri. That’s up by more than three bushels an acre from last year. US soybean production has increased by more than four percent from last year with nearly one percent less acres planted according to the USDA.

Montgomery corn and soybean farmer Josh Johnson said this trend will likely continue. Disease prevention in soybeans has come a long way in the past 20 years Johnson said. The key is in genetics.

“Seed breeders are constantly working to obtain higher yields and I see that as probably still one of the keys to gaining higher yields. We’re mastering all of the defensive side of soybeans, but the offensive side of genetics will continue to take yields higher,” Johnson said.

According to the USDA this is the first time the average soybean yield has been over 50 bushels per acre.

Agricultural Economist with the MU Food and Agricultural Policy Research Institute Scott Gerlt said with increased soybean production and tariffs from China prices will inherently fall.

“In our baseline update last month, where we do our projections, we were projecting a price that’s the lowest since 2006 for the season average soybean price,” Gerlt said.

Due to this decrease in price FAPRI is projecting a total of 85 million acres to be planted in soybeans in 20-19, that is down by five million acres from last year.