Crop Progress Update – 9/16/19
According to USDA, corn dough, dent, maturation & harvest figures and soybean pod setting & leaf dropping figures remained significantly below previous year levels through the second week of September. The current corn crop identified to be in good or excellent condition was unchanged from the previous week but finished above analyst expectations, while the current soybean crop identified to be in good or excellent condition was reduced from the previous week but finished consistent with analyst expectations.
Corn:
Corn dough as of the week ending Sep 15th was 93% percent complete, finishing behind last year’s pace of 99% and the five year average pace of 98%. Corn dough progress finished tied for the seasonal pace experienced throughout the past 27 years.
Corn dent as of the week ending Sep 15th was 68% complete, finishing behind last year’s pace of 92% and the five year average pace of 87%. Corn dent progress finished at a ten year seasonal low figure.
Corn maturation as of the week ending Sep 15th was 18% complete, finishing behind last year’s pace of 51% and the five year average pace of 39%. Corn maturation progress finished at a ten year seasonal low figure.
Corn harvest progress as of the week ending Sep 15th was four percent complete, finishing behind last year’s pace of eight percent and the five year average pace of seven percent. Corn harvest progress finished at a five 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 15th, unchanged from the previous week but up one percent in the ‘excellent’ category. The current corn crop identified to be in good or excellent condition finished below last year’s figure of 68% but and was above analyst expectations of 54%. 14% of the current corn crop was identified as very poor or poor, unchanged from the previous week while remaining 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 15th 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 15th was 95% complete, finishing behind last year’s pace of 100% and the five year average pace of 100%. Soybean pod setting progress finished at the lowest seasonal pace experienced on record. Soybean pod setting progress figures have been kept since 1981.
Soybean leaf dropping as of the week ending Sep 15th was 15% complete, finishing behind last year’s pace of 50% and the five year average pace of 38%. Soybean dropping leaves progress finished at a 38 year low seasonal pace.
54% of the current soybean crop was identified to be in good or excellent condition as of the week ending Sep 15th, down one percent from the previous week. The current soybean crop identified to be in good or excellent condition finished below last year’s figure of 67% but was consistent with analyst expectations. 14% of the current soybean crop was identified as very poor or poor, up two percent from the previous week and finishing four 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 15th 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.