Aug 03, 2022
2022 U.S. Soybean Yield Lowered 0.5 bu/ac to 50.5 bu/ac
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The 2022 U.S. soybean yield was lowered 0.5 bu/ac to 50.5 bu/ac and I have a neutral to lower bias going forward.
We are now into August which is the most important month for the soybean crop. In many areas of the western Corn Belt, July ended on a dry note and August is starting out dry as well, which is not a good combination for the soybean crop. The eastern Corn Belt has fared much better as far as rainfall is concerned and there is more rain in the forecast for the eastern Corn Belt.
The dry weather is a concern is for the western half of Iowa, eastern Nebraska, eastern South Dakota, and southwestern Minnesota. The five driest states are: Nebraska, Kansas, Mississippi, Louisiana, and Michigan.
The 2022 U.S. soybean rating improved 1% to 60% rated good/excellent. The soybeans are 79% blooming compared to 85% last year and 80% average. The soybeans are 44% setting pods compared to 56% last year and 51% average. The soybean development continues to be slower than normal this year.
The soil moisture improved a little this week, but it will decline further this week given the hot and dry conditions in the western Corn Belt. If the soil moisture is not replenished quickly, there could be a significant negative impact on soybean yields. Soybeans continuously flower and set pods, so they can recuperate from a dry period if the weather improves, but once the calendar turns to August, the crop can ill afford to lose a week of potential pod filling due to hot and dry conditions.