Sep 09, 2021

2021 U.S. Soybean Condition Improves 1% to 57% Rated Gd/Ex

Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.

The condition of the 2021 U.S. soybean crop improved 1% last week to 57% rated good to excellent. The soybeans are 96% setting pods and 18% dropping leaves. The five highest rated soybean states are: Indiana, Louisiana, Wisconsin, Kentucky, and Mississippi. The five lowest rated soybean states are: North Dakota, South Dakota, Minnesota, Kansas, and a tie between Iowa and Missouri.

The improved weather over the last several weeks has been beneficial especially for the later developing soybeans. The rainfall probably came too late for the earlier developing soybeans in the western and northwestern Corn Belt which will probably end up having the lowest yields. The best yields will likely come from the later developing soybeans.

NASS indicated that they may incorporate new acreage numbers in the September Crop Report, but I think most of the adjustments will be made in the corn acreage. I do not expect any significant adjustments to the 2021 U.S. soybean acreage.

The 2021 U.S. soybean yield was left unchanged this week at 50.0 bu/ac, and I have a neutral to slightly higher bias going forward. Given a yield of 50.0 bu/ac and a harvested acreage of 86.7 million acres, the 2021 U.S. soybean production is estimated at 4.33 billion bushels.