Crop Progress Update – 9/10/19
According to USDA, corn dough, dent & maturation figures and soybean pod setting figures remained significantly below previous year levels through the first week of September. The current corn crop identified to be in good or excellent condition declined from the previous week, finishing below analyst expectations, while the current soybean crop identified to be in good or excellent condition remained unchanged from the previous week, finishing consistent with analyst expectations.
Corn:
Corn dough as of the week ending Sep 8th was 89% percent complete, finishing behind last year’s pace of 99% and the five year average pace of 97%. Corn dough progress finished at a ten year seasonal low figure.
Corn dent as of the week ending Sep 8th was 55% complete, finishing behind last year’s pace of 84% and the five year average pace of 77%. Corn dent progress finished at a ten year seasonal low figure.
Corn maturation as of the week ending Sep 8th was 11% complete, finishing behind last year’s pace of 33% and the five year average pace of 24%. Corn maturation progress finished at a six year seasonal low figure.
55% of the current corn crop was identified to be in good or excellent condition as of the week ending Sep 8th, down three percent from the previous week. The current corn crop identified to be in good or excellent condition finished below last year’s figure of 68% but and was below analyst expectations of 58%. 14% of the current corn crop was identified as very poor or poor, up one percent from the previous week and finishing two 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 8th while the percentage of the current corn crop identified to be in poor or very poor condition finished at the highest level experienced throughout the past six years.
Soybeans:
Soybean pod setting as of the week ending Sep 8th was 92% complete, finishing behind last year’s pace of 100% and the five year average pace of 99%. Soybean pod setting progress finished at 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 8th, unchanged from the previous week but up one percent in the ‘excellent’ category. The current soybean crop identified to be in good or excellent condition finished below last year’s figure of 68% and was consistent with analyst expectations. 12% of the current soybean crop was identified as very poor or poor, down one percent from the previous week but remaining 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 8th while the percentage of the current soybean crop identified to be in poor or very poor condition finished tied for the highest level experienced throughout the past six years.