Status of the 2024 Corn and Soybean Crops

The USDA Crop Progress Report released on July 8^th documented completed emergence for corn and soybeans for the 2024 season. A third of the soybean crop is blooming and a quarter of the corn crop is silking, both in advance of the corresponding week in 2023.

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 75 and 73 percent respectively for the two highest categories of ‘Adequate’ and ‘Surplus’ representing an acceptable situation for growth in 2024. These levels were higher than the previous week despite hot conditions. Corresponding values of 60 and 56 percent were recorded for the two highest categories for topsoil and subsoil moisture respectively in 2023. High temperature across the Midwest and Plains states was reflected in a slight deterioration in crop condition in successive weeks in June. Despite alternating drought and torrential rainfall with flooding in broad areas of the Midwest, the latest evaluation of crop quality for both corn and soybeans is acceptable.  Both corn and soybeans attained 68 percent for the two highest categories of “Good” and “Excellent” compared to 67 percent for corn and 67 percent for soybeans last week. The July 7^th values for corn and soybean quality were considerably higher than the 55 percent and 56 percent respectively for the highest categories in 2023. Prospects for high yields will be reflected in lower price projections in the July WASDE and for CME quotations for August delivery.

It is too early in the expected transition to a La Nina event to predict any impact on crop condition in coming months. If prolonged dry and hot weather is encountered in corn and soy areas, yield will be depressed depending on timing and severity.  A long-range forecast in the form of two charts is provided predicting rainfall and temperature during the growing season.

Heat stress during silking predisposes corn to fungal infection leading to mycotoxin contamination of kernels. The status of the 2024 crop will require monitoring at harvest in affected areas and especially if unseasonal precipitation occurs during the late growing period.

Reference is made to the June 12^th WASDE Report #649 and the weekly Commodity, Economy and Energy Report, both in this edition, documenting acreage to be harvested, yields, weekly prices and ending stocks. The July WASDE will be reviewed in the July 19^th edition.

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) * June 30th  2024        July 7th  2024 5-Year Average  Corn Planted (%) 100 100 100 Corn Silking (%) 11 24 14 Corn Dough (%) 0 3 2 Soybean Status (18 states)       Soybean Emerged (%) 100 100 100 Soybeans Blooming (%) 20 34 28 Soybeans Setting Pods (%) 3 9 5 *92% of 2023 acreage planted	Soybeans Blooming
Crop Condition  V. Poor Poor Fair Good Excellent Corn  2024 (%) 3 6 23 52 16 Corn  2023 (%) 4 10 31 45 10             Soybeans  2024 (%) 2 6 24 55 13 Soybeans  2023 (%) 4 11 34 44 7	Corn Silking
Parameter  48 States V. Short Short Adequate Surplus Topsoil Moisture:         Past Week 6 19 63 12 Past Year 12 28 55 5 Subsoil Moisture:         Past Week 6 21 63 10 Past Year 14 30 53 3

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.