U.S. Soybean Growing Season off to Subpar Start – 6/15/2023

Dry weather in parts of the Corn Belt and Delta has soybeans rated less than average by the USDA. In the week ending 6/11/23   USDA crop observers rated 59% of the US soybean crop in good or excellent condition compared to the June  average of 62% in the years 1985 through 2022. The US soybean crop is not considered made until mid August, but production potential can be lost if dry weather persists into July.  For example the US national soybean average yield has fallen under the previous record in nine of 11 years in which the mid June average crop rating has been less than 60% good to excellent. The USDA’s June yield projection. 52 bushels per harvested acre, would be a record by a small margin.