Aug 02, 2023

2023 U.S. Soy Yield Unchanged at 50.5 Bu/Ac, 4.17 Billion Bushels

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

The 2023 U.S. soybean yield was left unchanged this week at 50.5 bu/ac and I have a neutral to slightly lower bias going forward.

Rainfall over the weekend favored the northern and eastern Corn Belt especially eastern Iowa, Wisconsin, northern Illinois, Michigan, Indiana, and Ohio. Weekend rains also fell in Nebraska and across the southern Corn Belt. Areas that were generally missed include Missouri, western Iowa, southwestern Minnesota, South Dakota, and North Dakota.

Cooler and wetter conditions during early August are very advantageous for soybeans. Therefore, since my soybean yield is already below that of the USDA, I decided to leave the soybean yield unchanged this week while we wait and see how the weather develops in early August.

The condition of the 2023 U.S. soybean crop declined 2% last week to 54% rated good /excellent. The soybeans are 83% blooming compared to 77% last year and 78% average. The soybeans are 50% setting pods compared to 41% last year and 47% average.

Soybeans are now starting to set pods and high temperatures or moisture stress during the reproductive stage can result in aborted flowers and pods, aborted seed in larger pods, and smaller seeds. Heat or moisture stress can reduce pod numbers, number of seeds per pod, or seed size.