Rice lodging is a crucial problem in rice production. Lodging during growing and harvesting periods can decrease rice yields. Practical lodging judgment for rice can provide effective reference information for yield prediction and harvesting. This article proposes a binocular camera-based lodging judgment method for rice in real-time. As a first step, the binocular camera and Inertial Measurement Unit (IMU) were calibrated. Secondly, Census and Grayscale Level cost features are constructed for stereo matching of left and right images. The Cross-Matching Cost Aggregation method is improved to compute the aggregation space in the LAB color space. Then, the Winner-Takes-All algorithm is applied to determine the optimal disparity for each pixel. A disparity map is constructed, and Multi-Step Disparity Refinement is applied to the disparity map to generate the final one. Finally, coordinate transformation obtains 3D world coordinates corresponding to pixels. IMU calculates the real-time pose of the binocular camera. A pose transformation is applied to the 3D world coordinates of the rice to obtain its 3D world coordinates in the horizontal state of the camera (pitch and roll angles are equal to 0). Based on the distance between the rice and the camera level, thresholding was used to determine whether the region to be detected belonged to lodging rice. The disparity map effect of the proposed matching algorithm was tested on the Middlebury Benchmark v3 dataset. The results show that the proposed algorithm is superior to the widely used Semi-Global Block Matching (SGBM) stereo-matching algorithm. Field images of rice were analyzed for lodging judgments. After the threshold judgment, the lodging region results were accurate and could be used to judge rice lodging. By combining the algorithms with binocular cameras, the research results can provide practical technical support for yield estimation and intelligent control of rice harvesters.