PIXABAY

Aug 15, 2022

USDA: Soybean Yields Will Rise to Record Levels

Soybean yields will reach a record 51.9 bushels/acre in 2022

USDA released its August Crop Production report on August 12 and the survey-based report has farmers indicating corn yields will reach 175.4 bushels/acre and soybean yields at a record 51.9 bushels/acre in 2022.

This is despite extreme heat and sporadic rainfall throughout the countryside, says the American Farm Bureau Federation's latest Market Intel.

The August 12 report provides the most recent update for U.S. commodity supplies since the June 30 Planted Acreage report, providing the next comprehensive look at overall production for the 2022 crop year.

Soybeans

The soybean yield reported, 51.9 bushels/acre, is up 0.5 bushels/acre, or 1%, compared to 2021 and is a slight increase from USDA’s previous trend yield estimates of 51.5 bushels/acre as reported in the July USDA World Agricultural Supply and Demand Estimates report.

Corn

For corn yields, the USDA report indicates that yields will rise to 175.4 bushels/acre, which is 1.6 bushels/acre lower (1%) compared to 2021 yields of 177 bushels/acre, the fourth-highest corn yield on record, and where USDA has pegged the corn trend yield to be since May.

Record soybean yield in 2022

According to AFBF's Market Intel, Illinois leads the country in estimated soybean yield with 66 bushels/acre, an increase of 3% compared to 2021 when soybean yield was 64 bushels/acre.

Indiana follows just behind with an estimated soybean yield of 60 bushels/acre, up 1% from 2021 when soybean yield was 59.5 bushels/acre.

Iowa is third, expecting 58 bushels/acre for soybeans, which is down 6% from 2021 when soybean yield was 62 bushels/acre.

North Dakota leads with the largest year-over-year increase in estimated soybean yield, up 37%, reporting that soybean yields will be 35 bushels/acre, up from 25.5 bushels/acre in 2021.

South Dakota shows the second-largest year-over-year increase, up 8%, moving from 40 bushels/acre in 2021 to 43 bushels/acre in 2022.

Minnesota is expected to increase soybean yields by 6% compared to 2021, moving from 47 bushels/acre to 50 bushels/acre in 2022.

These yield increases are especially significant given these three states in particular faced dire drought conditions throughout 2021, followed by a series of weather delays during planting season in 2022.

2022 Corn Yield

For non-irrigated corn, the highest yields start in Iowa where farmers put yields at 205 bushels/acre, equivalent to yields in 2021.

Illinois also reported a near flat-rate yield estimate compared to 2021, reporting the second-highest yield of 203 bushels/acre, compared to 202 bushels/acre last year.

Minnesota is estimated to have the third-highest non-irrigated corn yield with 193 bushels/acre, up 8% from 2021 when Minnesota’s drought-stricken corn yielded 178 bushels/acre.

Washington leads irrigated corn yields with an estimated 225 bushels/acre, an increase of 3% compared to 2021.

California is just behind with an estimated 220 bushels/acre of corn, up 17% from 2021 when the state yield was 188 bushels/acre.

North Dakota has the largest year-over-year increase in corn yields, up 38% compared to 2021, moving from 105 bushels/acre to 145 bushels/acre.

Feed & Grain Staff

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Magazine

Marketwatch: Dec, 06

US Corn Price Idx: ZCPAUS.CM

open: 6.5328
high: 6.55
low: 6.4408
close: 6.4673

US Soybean Price Idx: ZSPAUS.CM

open: 14.2059
high: 14.2809
low: 14.1255
close: 14.1516

US Hard Red Winter Wheat Price Idx: KEPAUS.CM

open: 8.3708
high: 8.3933
low: 8.0459
close: 8.0561

US Soft Red Winter Wheat Price Idx: ZWPAUS.CM

open: 6.9245
high: 6.947
low: 6.6307
close: 6.6779