Wednesday, September 9, 2020

Crop Progress Report: "U.S. corn, soybean crops stumble to the finishline, USDA report shows"

We're getting to the point where speculative longs begin praying for frost, floods and hailstorms to stop crops getting to market. After the September WASDE and the next three or four Crop Progress Reports, 2020 will be a wrap.
From Successful Farming, September 8:

Iowa's corn rating falls two points vs. a week ago.
The U.S. corn and soybean crops record yet another week of failing ratings, according to the USDA. 
The drop of a few points is what the trade expected, the USDA Crop Progress Report said Monday.

CORN
In its report, the USDA’s estimate of corn with a good/excellent rating is 61% vs. 62% a week ago and 55% a year ago.
The Iowa corn crop, as of Sept. 7, 2020, has a good/excellent rating of 43%, a two point drop from a week ago. Illinois’ corn is rated at 70%, 62% for Nebraska, and 61% for Indiana’s corn.
Meanwhile, 97% of the nation’s corn is in the dough growth stage vs. a 94% five-year average.
The USDA pegged the U.S. corn as 79% dented vs. a 71% five-year average.
The USDA has pegged the U.S. corn as 25% mature, above a 19% five-year average. 

SOYBEANS
USDA rated 20% of the U.S. soybean crop is dropping leaves vs. a 16% five-year average....
....MORE

Here's the September 8 report (14 page PDF)

And a page from the chartbook: