Arkansas Soybean Farmers Facing Catastrophic Losses

A bad soybean harvest in Arkansas has turned much worse in the last week. The number of acres that are projected to be harvested has dropped by 320,000 acres to 3.25 million acres, according to the United States Agriculture Department. The bushel per acre average will drop from 50 bushels per acre to 48 bushels, according to USDA’s National Acreage Statistics Service (NASS).

That’s a 22.5 million bushel drop, soybean agronomist Jeremy Ross told Talk Business & Politics. Soybeans traded at $8.84 on Tuesday, meaning just the loss in bushels would equate to a nearly $200 million loss, he said. Only 44% of the soybean crop has been harvested as compared to 71% by this time in 2017. The five year average is more than 60% harvested by mid-October, he added.    MORE

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