Sep 27, 2023

2023 U.S. Soybean Yield Lowered 0.5 Bushels to 49.0 bu/ac

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

The 2023 U.S. soybean yield lowered 0.5 bushels this week to 49.0 bu/ac and I have a neutral to slightly lower bias going forward. The 2023 U.S. soybean production is estimated at 4.05 billion bushels.

Recent rainfall has improved the soil moisture across portions of the western Corn Belt, but it is occurring too late to make a significant impact on soybean yields. As of Sunday, 73% of the soybeans were dropping leaves which mean that approximately 90% were turning yellow, so it appears to be a relatively quick end to the growing season.

Once the soybean crop starts to turn yellow, no additional seed weight is added and the seeds start to lose moisture. In Iowa, 75% of the soybeans are dropping leaves compared to 61% average and in Minnesota, 81% of the soybeans are dropping leaves compared to 70% average.

Many areas of the western Corn Belt received below normal rainfall during most of the pod filling period, which should result in smaller and lighter seeds.

The 2023 U.S. soybean rating declined 2% this week to 50% rated good/excellent. The soybeans are 73% dropping leaves compared to 60% last year and 62% average. The soybeans are 12% harvested compared to 7% last year and 11% average.