Status of the 2024 Corn and Soybean Crops

The USDA Crop Progress Report released on September 3^rd documented 94 percent of the soybean crop setting pods and 12 percent dropping leaves. Nineteen percent of the corn crop is now mature, ahead of the 5-year averages for the corresponding week.

Despite high temperatures across the Midwest and Plains states, crop condition was almost unchanged during the past week. Corn and soybeans each attained 65 percent for the two highest categories of “Good” and “Excellent.” The September 1^st values for corn and soybean quality were considerably higher than the 54 and 53 percent recorded for corn and soybean crops respectively for the two highest categories during the corresponding week in 2023. Prospects for high yields were reflected in lower price projections in the August WASDE and for CME prices for August delivery following the release of the report.

Based on the sum of the “Adequate” and “Surplus” categories, surface and subsoil moisture levels were higher than during the corresponding week in 2023. For the past week, surface and subsoil moisture values were lower at 54 and 57 percent respectively for the two highest categories of ‘Adequate’ and ‘Surplus’ combined. Average topsoil moisture this past week was down three percent on average across 18 major row-crop states but still with an acceptable outlook for growth and quality in 2024 given the stage in production. Corresponding values of 42 and 43 percent percent each were recorded for the two highest categories for topsoil and subsoil moisture respectively in 2023.

It is unlikely that the expected transition to a La Nina event will have any substantial impact on crop condition through harvest. Prolonged dry and hot weather apparent at this time will not depress corn and soy yields depending on timing and severity.

Heat stress that occurred during silking predisposes corn to fungal infection leading to mycotoxin contamination of kernels. Unseasonal rain during the pre-harvest period for corn will also result in elaboration of mycotoxins. The status of the 2024 crop will require monitoring at harvest in affected areas and especially if unseasonal precipitation occurs during the pre-harvest period.

Reference is made to the August 12^th WASDE Report #651 under the Statistics TAB and the weekly Commodity, Economy and Energy Report, in this edition, documenting acreage to be harvested, yields, weekly prices and ending stocks. WASDE #652 will be reviewed in the September 20^th edition.

During September the NASS will conduct their annual remote survey to estimate yields and final production. Pro Farmer completed their annual crop tour in mid-August. Their August 23^rd report estimated a corn yield of 181.1 bushels per acre with a projected crop of 14.98 billion bushels. The corresponding values for soybeans were a yield of 54.9 bushels per acre contributing to a 2024 crop of 4.74 billion bushels.

EGG-NEWS will report on the progress of the two major crops as monitored by the USDA through the end of the 2024 harvest in November.

WEEK ENDING   Corn Status (18 states) * August 25th  2024    September 1st 2024 5-Year Average  Corn Silking (%) 100 100 100 Corn Dough (%) 84 90 90 Corn Dented (%) 46 60 58 Corn Mature (%) 11 19 13 Soybean Status (18 states)       Soybean Blooming (%) 100 100 100 Soybeans Setting Pods  (%) 89 94 93 Dropping Leaves (%) 6 13 10 *Representing 92% of 2024 acreage planted	Soybeans setting pods
Crop Condition  V. Poor Poor Fair Good Excellent Corn  2024 (%) 4 8 23 50 15 Corn  2023 (%) 6 12 29 44 9             Soybeans  2024 (%) 3 7 25 52 13 Soybeans  2023 (%) 5 12 30 44 9	Corn Maturing
Parameter  48 States V. Short Short Adequate Surplus Topsoil Moisture:         Past Week 15 31 50 4 Past Year 24 34 40 2 Subsoil Moisture:         Past Week 14 29 53 4 Past Year 22 35 41 2