Crop Progress Update – 9/21/20
According to the USDA, the current corn crop identified to be in good or excellent condition increased slightly from the previous week, finishing above analyst expectations, while the current soybean crop identified to be in good or excellent condition remained unchanged from the previous week, also finishing above analyst expectations.
Corn:
Corn dent as of the week ending Sep 20th was 95% completed, finishing ahead of last year’s pace of 76% completed and the five year average pace of 90% completed.
Corn maturation as of the week ending Sep 20th was 59% completed, finishing ahead of last year’s pace of 26% completed and the five year average pace of 49% completed.
Corn harvesting as of the week ending Sep 20th was eight percent completed, finishing ahead of last year’s pace of six percent completed but below the five year average pace of ten percent completed. Corn harvest progress finished slightly below analyst expectations of 11% completed.
61% of the current corn crop was identified to be in good or excellent condition as of the week ending Sep 20th, up one percent from the previous week. The current corn crop identified to be in good or excellent condition finished above analyst expectations of 59%. 14% of the current corn crop was identified as poor or very poor, down one percent from the previous week.
26% of the Iowa corn crop was identified to be in poor or very poor condition as of the week ending Sep 20th, down one percent from the previous week. Millions of acres of Iowa corn and soybean crops were heavily damaged by the early August derecho. Just 42% of the Iowa corn crop was identified to be in good or excellent condition, reaching a seven year seasonal low level.
Soybeans:
Soybean leaf dropping was 59% completed as of the week ending Sep 20th, finishing ahead of last year’s pace of 29% completed and the five year average pace of 50% completed.
Soybean harvesting as of the week ending Sep 20th was six percent completed, finishing ahead of last year’s pace of two percent completed and equal to the five year average pace. Soybean harvest progress finished slightly above analyst expectations of five percent completed.
63% of the current soybean crop was identified to be in good or excellent condition as of the week ending Sep 20th, unchanged from the previous week but down one percent in the ‘excellent’ category. The current soybean crop identified to be in good or excellent condition finished slightly above analyst expectations of 62%. Ten percent of the current soybean crop was identified as poor or very poor, down one percent from the previous week.
19% of the Iowa soybean crop was identified to be in poor or very poor condition as of the week ending Sep 20th, down one percent from the previous week. 48% of the Iowa soybean crop was identified to be in good or excellent condition, unchanged from the previous week and remaining at a seven year seasonal low level.