According to the USDA, the percentage of corn identified to be in good or excellent condition as of the week ending Aug 8^th increased from the previous week, finishing above analyst expectations. The percentage of soybeans identified to be in good or excellent condition as of the week ending Aug 8^th remained unchanged from the previous week, however, finishing consistent with analyst expectations.

Corn:

Corn silking as of the week ending Aug 8^th was 95% complete, finishing slightly behind last year’s pace of 96% completed but slightly ahead of the five year average pace of 94% completed.

Corn dough as of the week ending Aug 8^th was 56% complete, finishing equal to last year’s pace and ahead of the five year average pace of 51% completed.

An additional 18% of the total U.S. corn crop reached the dough stage during the week ending Aug 8^th. Weekly increases in corn dough on a percentage basis were led by Delaware, followed by Ohio.

Corn dent as of the week ending Aug 8^th was eight percent complete, finishing behind last year’s pace of ten percent completed and the five year average pace of 11% completed.

64% of the current corn crop was identified to be in good or excellent condition as of the week ending Aug 8^th, up two percent from the previous week. The current corn crop identified to be in good or excellent condition finished above analyst expectations of 62%. 11% of the current corn crop was identified to be in very poor or poor condition, unchanged from the previous week.

Soybeans:

Soybean blooming as of the week ending Aug 8^th was 91% complete, finishing equal to last year’s pace and ahead of the five year average pace of 89% completed.

Soybean pod setting as of the week ending Aug 8^th was 72% complete, finishing slightly behind last year’s pace of 73% completed but ahead of the five year average pace of 68% completed.

An additional 14% of the total U.S. soybean crop set pods during the week ending Aug 8^th. Weekly increases in soybean pod setting on a percentage basis were led by South Dakota, followed by Ohio and Maryland.

60% of the current soybean crop was identified to be in good or excellent condition as of the week ending Aug 8^th, unchanged from the previous week. The current soybean crop identified to be in good or excellent condition finished consistent with analyst expectations. 13% of the current soybean crop was identified to be in very poor or poor condition, up one percent from the previous week.