The 21-year-old Yeleussinov, one member of a strong Kazakh team, punched Herring around the ring and fully deserved his 19-9 victory.
Herring was magnanimous in defeat, admitting the better man won and adding: 'I'm disappointed to have lost but as captain of the US team it's my duty to stay around and cheer them on. If I am down then my team is down.'
Cuba's former world champion Roniel Iglesias Sotolongo also looked strong in the 64kg category, easing past Cesar Villarraga Aldana of Colombia 19-9, and Iran's Mendi Toloutibandpi looked strong dispatching Spain's Jonathan Alonso 16-12.
Another Cuban, Yosbany Veitia Soto, dazzled in the light-flyweight division, scoring the biggest win of the competition so far with a 26-4 triumph over Billy Ward of Australia.
Filipino teenager Mark Barriga - the shortest boxer in the competition - also looks a real medal contender after a powerful performance earned him a 17-7 win over Italian Manuel Cappai.
Birzhan Zhakypov of Kazakhstan kept his nerve to edge Frenchman Jeremy Beccu 18-17, while India's Devendro Laishram stopped Bayron Molina Figueroa Molina of Honduras with 36 seconds remaining in round one.