Crop Progress Update – 7/20/20
According to the USDA, the current corn and soybean crops identified to be in good or excellent condition finished unchanged to higher from the previous week, each finishing above analyst expectations.
Corn:
Corn silking as of the week ending Jul 19th was 59% completed, finishing ahead of last year’s pace of 30% completed and the five year average pace of 54% completed.
Corn dough as of the week ending Jul 19th was nine percent completed, finishing ahead of last year’s pace of four percent completed and the five year average pace of seven percent completed.
69% of the current corn crop was identified to be in good or excellent condition as of the week ending Jul 19th, unchanged from the previous week. The current corn crop identified to be in good or excellent condition finished slightly above analyst expectations of 68%. Eight percent of the current corn crop was identified as very poor or poor, also unchanged from the previous week.
Soybeans:
Soybean blooming as of the week ending Jul 19th was 64% completed, finishing ahead of last year’s pace of 35% completed and the five year average pace of 57% completed.
Soybean pod setting as of the week ending Jul 19th was 25% completed, finishing ahead of last year’s pace of six percent completed and the five year average pace of 21% completed.
69% of the current soybean crop was identified to be in good or excellent condition as of the week ending Jul 19th, up one percent from the previous week. The current soybean crop identified to be in good or excellent condition finished above analyst expectations of 67%. Seven percent of the current soybean crop was identified as very poor or poor, unchanged from the previous week.