Crop Progress Update – 8/24/20
According to the USDA, the current corn and soybean crops identified to be in good or excellent condition each declined sharply from the previous week, finishing below analyst expectations.
Corn:
Corn dough as of the week ending Aug 23rd was 88% completed, finishing ahead of last year’s pace of 66% completed and the five year average pace of 82% completed.
Corn dent as of the week ending Aug 23rd was 44% completed, finishing ahead of last year’s pace of 24% completed and the five year average pace of 39% completed.
Corn maturation as of the week ending Aug 23rd was five percent completed, finishing ahead of last year’s pace of two percent completed and equal to the five year average pace of five percent completed.
64% of the current corn crop was identified to be in good or excellent condition as of the week ending Aug 23rd, down five percent from the previous week. The current corn crop identified to be in good or excellent condition finished significantly below analyst expectations of 67%. 12% of the current corn crop was identified as poor or very poor, up two percent from the previous week.
21% of the Iowa corn crop was identified to be in poor or very poor condition as of the week ending Aug 23rd, up four percent from the previous week. Millions of acres of Iowa corn and soybean crops were heavily damaged by the Aug 10th derecho.
Soybeans:
Soybean pod setting as of the week ending Aug 23rd was 92% completed, finishing ahead of last year’s pace of 76% completed and the five year average pace of 87% completed.
69% of the current soybean crop was identified to be in good or excellent condition as of the week ending Aug 23rd, down three percent from the previous week. The current soybean crop identified to be in good or excellent condition finished slightly below analyst expectations of 70%. Eight percent of the current soybean crop was identified as poor or very poor, up one percent from the previous week.
13% of the Iowa soybean crop was identified to be in poor or very poor condition as of the week ending Aug 23rd, up one percent from the previous week.
Corn dent as of the week ending Aug 23rd was 44% completed, finishing ahead of last year’s pace of 24% completed and the five year average pace of 39% completed.
Corn maturation as of the week ending Aug 23rd was five percent completed, finishing ahead of last year’s pace of two percent completed and equal to the five year average pace of five percent completed.
64% of the current corn crop was identified to be in good or excellent condition as of the week ending Aug 23rd, down five percent from the previous week. The current corn crop identified to be in good or excellent condition finished significantly below analyst expectations of 67%. 12% of the current corn crop was identified as poor or very poor, up two percent from the previous week.
21% of the Iowa corn crop was identified to be in poor or very poor condition as of the week ending Aug 23rd, up four percent from the previous week. Millions of acres of Iowa corn and soybean crops were heavily damaged by the Aug 10th derecho.
Soybeans:
Soybean pod setting as of the week ending Aug 23rd was 92% completed, finishing ahead of last year’s pace of 76% completed and the five year average pace of 87% completed.
69% of the current soybean crop was identified to be in good or excellent condition as of the week ending Aug 23rd, down three percent from the previous week. The current soybean crop identified to be in good or excellent condition finished slightly below analyst expectations of 70%. Eight percent of the current soybean crop was identified as poor or very poor, up one percent from the previous week.
13% of the Iowa soybean crop was identified to be in poor or very poor condition as of the week ending Aug 23rd, up one percent from the previous week.