Sep 25, 2024
2024 U.S. Soybean Estimate Lowered 0.5 Bushels to 52.0 bu/ac
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The 2024 U.S. soybean yield was lowered 0.5 bushels this week to 52.0 bu/ac and I have a neutral to lower bias going forward. The condition rating for the soybean crop was unchanged this week at 64% rated good to excellent.
The best soybean yields this year will be from the earliest planted soybeans because they developed ahead of the late summer dryness. The later the soybeans were planted, the lower the probably yield because of the smaller seed size and fewer seeds per pod due to the dryness. The first soybean yields being reported are generally good, but the yields are expected to decline as the harvest progresses.
That is the main reason why I lowered the soybean yield 0.5 bushels this week to 52.0 bu/ac. The hot and dry weather from mid-August to md-September came at a critical time for pod filling of the later planted soybeans.
Soybeans are 65% dropping leaves compared to 68% last year and 57% average. Soybeans are 13% harvested compared to 10% last year and 8% average.