Impact of COVID-19 on Agriculture

Corn and Soybean Crop Conditions Hold Steady

Market Intel / September 5, 2018

With September arriving and fall on the horizon, crop conditions for corn and soybeans continue to remain above prior-year and five-year average levels. USDA’s September 4 Crop Progress report indicates that 67 percent of the U.S. corn crop is in good-to-excellent condition, down 1 percentage point from last week. Analysts expected the conditions to remain unchanged for a second week in a row, regardless of the large amounts of precipitation seen across the Corn Belt. The percent of crops in good-to-excellent condition is up over the five-year average of 66 percent and up 6 percentage points over the prior year. Crops in poor-to-very-poor condition have remained unchanged from the previous two weeks’ 12 percent. Figure 1 outlines corn crops in good-to-excellent condition on a state-by state-level.

For the week ending September 3, USDA reports 66 percent of the soybean crop is in good-to-excellent condition, unchanged from last week. The percent of crops in good-to-excellent condition continue to be up 5 percentage points from last year’s 61 percent and up 3 percentage points from the five-year average of 63 percent. Soybean crops in poor-to-very-poor condition have remained unchanged from the previous two weeks, at 11 percent. Figure 2 illustrates the soybean crops in good-to-excellent condition on a state-by-state level.

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Megan Nelson
Economic Analyst
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USDA data reveals that as of the end of June nearly one-third, or $4.85 billion, of the $16 billion in CFAP assistance has been paid to livestock, dairy, crop and specialty crop producers. Of that total, $2.4 billion, more than 50%, has been paid to livestock (cattle, hog and lamb producers), $1.3 billion, or 26%, has been paid to non-specialty crop producers, $1 billion, or 22%, has been paid to dairy producers and $113 million, or 2%, has been paid to specialty crop producers.

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Following USDA’s March Prospective Plantings report, USDA’s June 30 Acreage report updated acreage expectations for the upcoming crop year. For the 2020/21 crop year, USDA now estimates corn planted area at 92 million acres, 3%, or 2.3 million acres, above prior-year levels. The revision is 5 million acres lower from March intended planting projections of 97 million acres, which was expected to lead to a record amount of corn production. Pre-report estimates had been calling for a reduction of 1.8 million acres, to 95.2 million acres of corn. Iowa leads the way in corn acres planted with 14 million acres, an increase of 4% compared to 2019. Illinois follows with 10.9 million acres of corn planted, up 4% from 2019, and Nebraska planted 9.8 million acres, down 3% from 2019. With 3.4 million acres, Ohio is expected to have the largest increase, 29%, in corn planted in 2020 compared to 2019. South Dakota follows with an increase of 24% in corn planting for 2020 compared to 2019 and Washington increases 18% in 2020 compared to 2019 corn planting. Figures 1 and 2 highlight USDA’s corn acres planted and the year-over-year change from 2019.

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