Status of the 2024 Corn and Soybean Crops

The USDA Crop Progress Report released on August 19^th documented 81 percent of the soybean crop setting pods and 97 percent of the corn crop silking with 5 percent mature, conforming to 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 67 and 68 percent respectively for the two highest categories of “Good” and “Excellent” The August 18^th values for corn and soybean quality were considerably higher than the 58 and 59 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 67 and 63 percent respectively for the two highest categories of ‘Adequate’ and ‘Surplus.’ Average topsoil moisture this past week was unchanged representing an acceptable outlook for growth and quality in 2024. Corresponding values of 58 and 50 percent percent each were recorded for the two highest categories for topsoil and subsoil moisture respectively in 2023.

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. 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 late growing 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.

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 4th  2024    August 11th  2024 5-Year Average  Corn Silking (%) 94 97 98 Corn Dough (%) 60 74 71 Corn Dent (%) 18 30 26 Corn Mature (%) 0 5 3 Soybean Status (18 states)       Soybean Emerged (%) 100 100 100 Soybeans Blooming (%) 91 95 95 Soybeans Setting Pods (%) 72 81 80 *Representing 92% of 2024 acreage planted	Soybeans setting pods
Crop Condition  V. Poor Poor Fair Good Excellent Corn  2024 (%) 4 7 22 51 16 Corn  2023 (%) 5 10 27 47 11             Soybeans  2024 (%) 2 6 24 54 14 Soybeans  2023 (%) 4 9 28 49 10
Parameter  48 States V. Short Short Adequate Surplus Topsoil Moisture:         Past Week 11 26 57 6 Past Year 18 29 50 3 Subsoil Moisture:         Past Week 10 25 60 5 Past Year 18 32 47 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.