11. Soybeans, which also rose Monday, came under renewed selling pressure linked to prospects for large South American soybean production. 12. Soybean production has proven most successful so far along the upper Gulf Coast, the irrigated High Plains and the Red River Valley in northeast Texas. 13. Soybean production was the second-largest on record, while corn output was the third- largest. 14. Such soybean production would be a record. 15. The Agriculture Department will release its first corn and soybean production estimates based on field surveys late Thursday. 16. The tour is expected to release a ballpark estimate of total U.S. corn and soybean production this afternoon from Des Moines, Iowa. 17. The U.S. Department of Agriculture releases its next forecast on Argentine soybean production Monday. 18. To be sure, weather this month and in early September has the largest influence on soybean production. 19. Yet U.S. grains and oilseeds could be in great demand if Australian wheat or Indian soybean production falls. 20. August is a critical month for soybean production as the plants produce pods and fill them with round beans. |