Jul 17, 2024
2024 U.S. Corn Yield Increased 1.0 Bushel to 180.0 bu/ac
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The 2024 U.S. corn yield was increased 1.0 bu/ac this week to 180.0 bu/ac and I have a neutral to slightly higher bias going forward. The corn production estimate is now 14.85 billion bushels.
The corn yield was increased due to recurring rainfall across the Midwest and milder temperatures as the corn enters pollination. The weather in early July started off beneficial with rain from Hurricane Beryl and now with additional rainfall and no extreme heat, it looks like the weather during the second half of July will also be beneficial.
Therefore, the U.S. corn yield was increased 1.0 bushel to 180.0 bu/ac and I continue to use a corn harvested acreage of 82.53 million acres, which is 900,000 acres less than the USDA due to prior ponding/flooding in the northwestern Corn Belt.
As expected, the July WASDE Report used the corn planted and harvested acreage from the June Planted Report (91.47 million acres planted and 83.43 million acres harvested) with a yield of 181.0 bu/ac. The harvested acreage may be updated in the August WASDE Report to reflect prior problems in the northwestern Corn Belt.
The weather was beneficial for the corn last week, especially in the eastern Corn Belt. Moisture from Hurricane Beryl fell across Illinois, Indiana, Michigan, and Ohio relieving much of the recent dryness concerns. Moisture from hurricanes rarely, if ever, make it into the Midwest in early July, so the timing was ideal for the corn prior to pollination.
Soil moisture is generally better than average, but there are pockets of dryness in the southern areas. Four out of five of the driest states are in the mid-south and South. There has also been too much rain in some of the northern states which led to declining corn conditions. After a brief warm up early this week, temperatures for the remainder of the week will be seasonal to below normal, which will favor pollination.
Corn is 41% silking compared to 40% last year and 32% average. Corn silking should hit the 50% mark later this week under generally good conditions. Corn is 8% dough compared to 6% last year and 4% average.