U.S. soybean production this year is projected 31 million bushels higher than last month’s prediction. At this time the projection is for 3.92 billion bushels, nearly half a million bushels fewer than last year’s record crop. According to the Iowa Soybean Association, the state’s harvest is forecast to be at 515 million bushels with an average of 52 bushels per acre. The season-average soybean price for the U.S. For 2015-16 is projected at $8.40 to $9.90 per bushel.

According to the latest progress and condition report from the U.S. Department of Agriculture, 15 percent of soybeans are excellent, 58 percent are good and 24 percent are fair in Iowa.

In southeast Iowa, 59 percent of the crop is setting pods, 14 points behind the five-year average.