Crop Progress Update – 9/3/19
According to USDA, corn dough, dent & maturation figures and soybean blooming & pod setting figures remained significantly below previous year levels through the final week of August. The current corn crop identified to be in good or excellent condition increased from the previous week, finishing consistent with analyst expectations, however the current soybean crop identified to be in good or excellent condition remained unchanged from the previous week, finishing slightly below analyst expectations.
Corn:
Corn dough as of the week ending Sep 1st was 81% percent complete, finishing behind last year’s pace of 95% and the five year average pace of 93%. Corn dough progress finished at a ten year seasonal low figure.
Corn dent as of the week ending Sep 1st was 41% complete, finishing behind last year’s pace of 73% and the five year average pace of 63%. Corn dent progress finished at a ten year seasonal low figure.
Corn maturation as of the week ending Sep 1st was six percent complete, finishing behind last year’s pace of 20% and the five year average pace of 13%. Corn maturation progress finished at a six year seasonal low figure.
58% of the current corn crop was identified to be in good or excellent condition as of the week ending Sep 1st, up one percent from the previous week. The current corn crop identified to be in good or excellent condition finished below last year’s figure of 67% but was consistent with analyst expectations. 13% of the current corn crop was identified as very poor or poor, unchanged from the previous week but finishing one percent above last year’s figure.
The percentage of the current corn crop identified to be in good or excellent finished at a six year seasonal low level for the week ending Sep 1st while the percentage of the current corn crop identified to be in poor or very poor condition finished tied for the highest level experienced throughout the past six years.
Soybeans:
Soybean blooming progress as of the week ending Sep 1st was 96% complete, finishing behind last year’s pace of 100% and the five year average pace of 100%. Soybean blooming progress finished at the lowest seasonal pace experienced on record. Soybean blooming progress figures have been kept since 1981.
Soybean pod setting as of the week ending Sep 1st was 86% complete, finishing behind last year’s pace of 98% and the five year average pace of 96%. Soybean pod setting progress finished tied for the lowest seasonal pace experienced on record. Soybean pod setting progress figures have been kept since 1981.
55% of the current soybean crop was identified to be in good or excellent condition as of the week ending Sep 1st, unchanged from the previous week. The current soybean crop identified to be in good or excellent condition finished below last year’s figure of 66% and was slightly below analyst expectations of 56%. 13% of the current soybean crop was identified as very poor or poor, also unchanged from the previous week but finishing two percent above last year’s figure.
The percentage of the current soybean crop identified to be in good or excellent finished at a six year seasonal low level for the week ending Sep 1st while the percentage of the current soybean crop identified to be in poor or very poor condition finished at the highest level experienced throughout the past six years.