I have logged many miles across Southern WI the past week and have  noticed several pockets of  soybean that could use some rain. The U.S.  Drought Monitor service verifies my wind shield scouting as it places  most of southern WI in the abnormally dry category (Image 1). Across  southern and central WI the average soybean field I have been in is at  the R5.5 to R6 growth stage (full seed). In WI the R6 growth stage on  average lasts ~18 days but will range from 9 to 30 days depending upon  the weather. Soybean in this stage use about 1/4 to 1/3 inches of water  per day. Lack of sufficient water during this growth stage can cause  young pods and developing seed to abort reducing the number of seeds per  plant (Images 2 &3).
Image 1.
Images 2 & 3. Stress induced seed and pod abortion at R6 soybean.

Soybean  plants can reduce the size of their leaf pore openings to reduce the  loss of water vapor. This also reduces the intake of carbon dioxide and  the manufacturing of photosynthates which slows plant growth. When  normal soil moisture returns, normal growth is resumed. This ability to  reduce metabolic activity allows plants to tolerate dry spells without  dying or harming their ability to resume growth when normal moisture  returns.
If stress has severely affected pod set and seed fill,  and if livestock feed is needed, soybeans can be harvested as a forage  for ensiling. Highest protein and yields are obtained from soybean  harvested at the R6 to R7 growth stage. Harvesting soybeans for forage  between the R1 and R5 stage will result in a very high quality silage,  but dry matter yields will be reduced significantly. Forage quality will  be reduced from R5 soybean forward if a conditioning process is used  during harvest. Conditioning will cause significant seed shattering.