Aug 15, 2024
2024 U.S. Corn Yield Estimated at 183.5 bu/ac
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The 2024 U.S. corn yield was increased this week to 183.5 bu/ac and I have a neutral bias going forward. The corn production is estimated at 15.17 billion bushels.
In the August Crop Report, the USDA estimated the 2024 U.S. corn yield at 183.1 bu/ac. The corn planted acreage was estimated at 90.7 million acres which is down 775,000 acres from the June Planted Report. The corn harvested acreage is estimated at 82.71 million acres (91.1% of planted) with a total production of 15.146 billion bushels. Record high corn yields are forecast for Illinois, Indiana, Iowa, Louisiana, Michigan, Nebraska, South Dakota, and Wisconsin.
Temperatures last week and over the weekend cooled considerably reducing any potential heat stress on the crop. Soil moisture is generally adequate across the central Midwest with dryer conditions in the southern Midwest and Delta. The southeastern states received drenching rain last week from Hurricane Debby and there was probably some localized damage due to flooding and/or standing water.
The forecast for this week is calling for widespread rain across the Corn Belt which should improve soil moisture and favor corn and soybean development. Warmer temperatures in the northwestern Corn Belt would be welcomed to ensure the corn crop continues to develop at a pace necessary to avoid potential damage from frost. The southern Midwest and Delta need to be watched to see if the current dry pattern is extended. Most of the corn in that region is approaching maturity, so continued dryness should not have a major impact on the crop.
The 2024 U.S. corn yield was increased this week to 183.5 bu/ac. The USDA is estimating the harvested acreage at 82.71 million acres which is 180,000 higher than what I had been using. Since the USDA adjusted their acreage numbers based on data from the Farm Service Administration, I am going to use the USDA acreage estimates at least for now.
The corn crop is currently in good condition and there is no threatening weather on the near-term horizon. In fact, rain is forecast for the Corn Belt this week with below normal temperatures, which should favor kernel development. The corn crop is big and could get bigger if the forecast verifies.
The 2024 U.S. corn crop is 94% silking compared to 95% last year and 94% average. The corn is 60% dough compared to 60% last year and 56% average and the corn is 18% dented compared to 15% last year and 12% average.