Status of the 2024 Corn and Soybean Crops

The USDA Crop Progress Report released on August 26^th documented 89 percent of the soybean crop setting pods and 6 percent dropping leaves. Eleven percent of the 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 attained 65 and 68 percent respectively for the two highest categories of “Good” and “Excellent” The August 25^th values for corn and soybean quality were considerably higher than the 56 and 58 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 57 and 59 percent respectively for the two highest categories of ‘Adequate’ and ‘Surplus.’ Average topsoil moisture this past week was down six 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 48 and 46 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.  A long-range forecast appended in the form of two charts predicted rainfall and temperature during the growing season.

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 predispose to 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 and the weekly Commodity, Economy and Energy Report, both 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 has commenced their annual crop tour. Initial results from Illinois suggest a five percent increase in corn yield for the state to 200 bushels per acre in 2024. Soybean yield will exceed the Illinois 2023 value based on fields showing a 12 percent increment in pods.

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 18th  2024    August 25th  2024 5-Year Average  Corn Silking (%) 100 100 100 Corn Dough (%) 74 84 83 Corn Dent (%) 30 46 42 Corn Mature (%) 5 11 6 Soybean Status (18 states)       Soybean Blooming (%) 100 100 100 Soybeans Setting Pods  (%) 81 89 88 Dropping Leaves (%) 0 6 4 *Representing 92% of 2024 acreage planted	Soybeans setting pods
Crop Condition  V. Poor Poor Fair Good Excellent Corn  2024 (%) 5 8 22 49 16 Corn  2023 (%) 6 11 27 47 9             Soybeans  2024 (%) 2 7 24 54 14 Soybeans  2023 (%) 4 10 28 48 10
Parameter  48 States V. Short Short Adequate Surplus Topsoil Moisture:         Past Week 13 30 53 4 Past Year 21 31 45 3 Subsoil Moisture:         Past Week 13 28 56 3 Past Year 21 33 44 2

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