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South Central Iowa | We will find a reason while we are doing it, and the act of breaking it causes reasons of its own.
There is fundamental allowance for it as well. Simple averaging each state in equal weight, the crop tour showed pod counts across all seven were 94.21% of the 3 year average. Indiana was right at the 3 year, but all others were down, Illinois 3%, Minnesota 6%, Iowa nearly 10%, etc. The 3 year average soybean production is 49.2 bpa; 47.5 + 48.0 + 52.1. 94.21% of 49.2 is 46.4 bpa.
46.4 national yield on soybeans allows technicals to guide a major rally.
Honestly, I would not be surprised to see soybeans under 45, so long as USDA does truly post honest yields. Only a short 3 years ago, we had never posted a national yield over 45.0, but now everyone acts like it would be unfathomable to yield under. Not only is it fathomable, but it is probably likely, if not this year, maybe next. 45.0 is not a disaster national yield.
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I don't see!
