Soybean conditions remained below average in the eastern Corn Belt, as farmers remain hopeful good weather through the end of August can partially offset a dismal growing season. Soybean maturity is slightly behind schedule across the Corn Belt, except in Minnesota, where pod setting is reportedly 7% above the five-year average. Corn conditions are favorable in the western Corn Belt, but overall, were unchanged from last week. The spring wheat harvest is nearing completion with farmers 28% ahead of the five-year average.
The USDA estimated corn crop conditions in the U.S. as of August 23rd, at 69% as “Excellent” or “Good,” unchanged from last week, and a 4% decrease from last year. 21% of the crop was reported as “Fair,” unchanged from last week, but a 1% increase from last year. 10% was rated as “Poor” or “Very Poor,” unchanged from last week, but a 3% increase from last year.
Corn doughing was estimated by the USDA at 85%, a 14% increase from last week and a 4% increase from the five-year average. Of the five largest corn producing states, Illinois reported the most corn doughing at 91%, followed by Iowa at 89%, and Minnesota at 88%.
Corn dented was reported at 39%, an 18% increase from last week, but 4% behind the five-year average. Of the five largest corn producing states, Illinois reported the most dented corn at 55%, followed by Nebraska at 37%.
The USDA estimated soybean crop conditions at 63% “Excellent” or “Good,” unchanged from last week, but a 7% decrease from last year. 26% of the crop was rated as “Fair,” unchanged from last week, while 11% of the crop was rated as “Poor” or “Very Poor,” unchanged from last week.
Soybean blooming was reported at 96%, a 5% increase from last week, but a 2% decrease from the five-year average. Of the five largest soybean producing states, Minnesota and Nebraska reported the most at 100%, Illinois and Indiana reported the least at 96%.
Soybeans setting pods were reported at 87%, an 8% increase from last week, but a 1% decrease from the five-year average. Of the five largest soybean growing states, Minnesota reported the most at 98%, followed by Nebraska at 91%, and Iowa at 90%.
Spring wheat harvested was reported by the USDA at 75%, a 22% increase from last year and a 28% increase from the five-year average. Farmers in Minnesota and North Dakota are nearing completion of their spring wheat harvest well above schedule, 27% and 29% ahead of their respective five-year averages.
September futures for corn closed the week at $3.68 per bushel, a 1.4% increase from last week. September soybeans ended the week at $8.92, a 3.7% decrease from last week, and September wheat ended the week at $5.03, a 0.6% increase from last week. Year-to-year corn prices are up 2.2%, soybeans are down 20.7%, and wheat is down 7.2%.
The data for this report was taken from the August 24, 2015 USDA Crop Progress report for the week ending August 23, 2015. The information reported is based on a survey of approximately 4,000 agriculture professionals making subjective estimates of the progress of crops in their area. The data is compiled by the USDA National Agricultural Statistics Service.