Canada: 2024 soybean seasonal summary

A wet spring pushed Ontario soybean acres to a record high of 3.1 million acres seeded in 2024. This was up 7% from 2023. To date, with approximately half of yields reported the provincial yield is above average at 108%. This number will be updated in January when all acres have been reported. The Agricorp floating claim price was $13.1103/bu in 2024. Ontario is Canada’s largest producer of soybeans, growing 57% of the country’s soybeans. Soybeans are the third largest field crop in Canada in terms of farm cash receipts. The 5-year Ontario average is now approximately 50 bu/ac. A few Ontario fields yielded over 80 bu/ac and some trials yielded an astounding 100 bu/ac. However, growers also faced significant challenges including, excess rainfall, poor plant stands, slug feeding, white mould, and spider mites. This resulted in fields yielding below 30 bu/ac in some regions. Overall, the saying that “rain makes grain” held true in 2024 with higher yields than anticipated for many ...