Aug 10, 2022
2022 U.S. Soybean Yield Unchanged at 50.5 bu/ac
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The 2022 U.S. soybean yield was left unchanged this week at 50.5 bu/ac and I have a neutral to lower bias going forward.
August is the make-or-break month for soybeans because it is when most of the pod filling takes place. Many areas of the western Corn Belt started the month dryer than normal, but there was some relief over the weekend from eastern South Dakota eastward to northern Illinois. The longer-range forecast though points to potential problems going forward in the western areas with a return of hot and dry conditions.
The condition of the 2022 U.S. soybean crop declined 1% last week to 59% rated good/excellent. The soybeans are 89% blooming compared to 90% last year and 88% average. The soybeans are 61% setting pods compared to 70% last year and 66% average.
The August Crop Report, which will be released on Friday, is not expected to show much of a change in either the soybean planted acreage or the soybean yield. Unlike corn, it is too early to speculate that the soybean harvested acreage may be lower than expected due to increased abandonment caused by dry weather. For now, I would continue to estimate that 99% of the planted soybean acreage will be harvested.