According to the USDA, the percentage of corn and soybeans identified to be in good or excellent condition as of the week ending Aug 15^th each declined from the previous week, finishing below analyst expectations.

Corn:

Corn dough as of the week ending Aug 15^th was 73% complete, finishing slightly behind last year’s pace of 74% completed but remaining ahead of the five year average pace of 68% completed.

An additional 17% of the total U.S. corn crop reached the dough stage during the week ending Aug 15^th. Weekly increases in corn dough on a percentage basis were led by Delaware, followed by Maryland.

Corn dent as of the week ending Aug 15^th was 22% complete, finishing slightly ahead of last year’s pace of 21% completed and equal to the five year average pace.

62% of the current corn crop was identified to be in good or excellent condition as of the week ending Aug 15^th, down two percent from the previous week. The current corn crop identified to be in good or excellent condition finished below analyst expectations of 64%. 13% of the current corn crop was identified to be in very poor or poor condition, up two percent from the previous week.

Soybeans:

Soybean blooming as of the week ending Aug 15^th was 94% complete, finishing slightly behind last year’s pace of 95% completed but remaining equal to the five year average pace.

Soybean pod setting as of the week ending Aug 15^th was 81% complete, finishing slightly behind last year’s pace of 83% completed but remaining slightly ahead of the five year average pace of 79% completed.

An additional nine percent of the total U.S. soybean crop set pods during the week ending Aug 15^th. Weekly increases in soybean pod setting on a percentage basis were led by South Dakota and North Carolina, followed by Virginia.

57% of the current soybean crop was identified to be in good or excellent condition as of the week ending Aug 15^th, down three percent from the previous week. The current soybean crop identified to be in good or excellent condition finished below analyst expectations of 60%. 15% of the current soybean crop was identified to be in very poor or poor condition, up two percent from the previous week.