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Record U.S. Soybean Crop May Overtake Brazilian Production

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In the 2012/2013 marketing year, Brazil surpassed the United States as the leading global soybean exporter. But an expected harvested area of 84.1 million acres will keep prices low, increasing the competitiveness of American soybeans abroad, possibly surpassing Brazil's production again. Exports are forecast at 45.6 million metric tons.

As an oilseed, processed soybeans yield crushed meal and oil; exports of are expected to increase this marketing year as well.

All this means the price farmers receive will also drop, down to a range of $9.50-$11.50 per bushel, as opposed to the average of $13 per bushel last marketing year