close [X]

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.

Contact:
Megan Nelson
Economic Analyst
(202) 406-3629
megann@fb.org
twitter.com/@MeganRNelson1
 

Share This Article

Credit: CC BY 2.0 

While on the higher side of pre-report estimates, the USDA September Crop Production report shows corn and soybeans yields are down from 2018 and lower than the projections posted in the USDA August Crop Production report.

Full Article

With a looming enrollment deadline of Friday, Sept. 20, fewer producers than anticipated have opted to enroll in Dairy Margin Coverage, the 2018 farm bill’s improved replacement for the Margin Protection Program.

Full Article