USDA says that the 5 million tons of soy produced during the 2011–2012 season is a 40% drop from last year. Harvested land for soy is also 9% lower than last year. The USDA is expecting an estimated 34% reduction in yield this year.
Decreased soy production is largely attributed to less-than-ideal rainfall in key growing regions. Lead soy producers taking a hit during this season include Paraguay, Argentina, and Brazil. Read the nation-specific details in the report (linked above).
