Aug 29, 2024
2024 U.S. Soybean Yield Unchanged at 53.5 bu/ac
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The 2024 U.S. soybean yield was left unchanged this week at 53.5 billion bushels and I have a neutral to slightly lower bias going forward. The soybean production is estimated at 4.61 billion bushels.
The warmer temperatures and generally dry weather forecast for this week could start to impact some of the later planted soybeans that are filling pods, especially in the southern areas that have been dry for a longer period of time. These dry conditions could start to trim the yield, so therefore, the soybean yield was left unchanged this week at 53.5 bu/ac with a neutral bias.
It is difficult to judge the soybean yield prior to harvest because the eventual yield depends heavily on the seed size and seed weight. If there is a heavy pod set, then there is a high yield potential if the weather cooperates during pod filling. What I took away from the Pro Farmer Crop Tour is that there is a high yield potential if the finishing weather cooperates.
The Pro Farmer Crop Tour estimated the 2024 U.S. soybean yield at 54.9 bu/ac compared to the USDA August estimate of 53.2 bu/ac. Their yield range is +/- 2% or 56.0 bu. to 53.8 bushels. The 2024 U.S. soybean production was estimated at 4.740 billion bushels compared to the USDA August estimate of 4.589 billion bushels. Their production range is +/- 2% or 4.835 billion bu. to 4.645 billion bu.
The soybeans are 89% setting pods compared to 90% last year and 88% average with 6% dropping leaves compared to 4% last year and 4% average.