According to the USDA, the percentage of corn and soybeans identified to be in good or excellent condition continued to decline through the week ending Aug 22^nd. The percentage of corn identified to be in good or excellent condition finished slightly below analyst expectations while the percentage of soybeans identified to be in good or excellent condition finished consistent with analyst expectations.

Corn:

Corn dough as of the week ending Aug 22^nd was 85% complete, finishing slightly behind last year’s pace of 86% completed but remaining ahead of the five year average pace of 81% completed.

An additional 12% of the total U.S. corn crop reached the dough stage during the week ending Aug 22^nd. Weekly increases in corn dough on a percentage basis were led by North Dakota, followed by Idaho.

Corn dent as of the week ending Aug 22^nd was 41% complete, finishing equal to last year’s pace but remaining ahead of the five year average pace of 38% completed.

Corn maturation as of the week ending Aug 22^nd was four percent complete, finishing slightly behind last year’s pace of five percent completed but remaining equal to the five year average pace.

60% of the current corn crop was identified to be in good or excellent condition as of the week ending Aug 22^nd, down two percent from the previous week. The current corn crop identified to be in good or excellent condition finished slightly below analyst expectations of 61%. 14% of the current corn crop was identified to be in very poor or poor condition, up one percent from the previous week.

Soybeans:

Soybean blooming as of the week ending Aug 22^nd was 97% complete, finishing behind last year’s pace of 99% completed but remaining equal to the five year average pace.

Soybean pod setting as of the week ending Aug 22^nd was 88% complete, finishing behind last year’s pace of 91% completed but remaining slightly ahead of the five year average pace of 87% completed.

An additional seven percent of the total U.S. soybean crop set pods during the week ending Aug 22^nd. Weekly increases in soybean pod setting on a percentage basis were led by Maryland, followed by New York.

Three percent of the soybean crop has dropped leaves as of the week ending Aug 22^nd, finishing slightly behind last year’s pace of four percent completed but remaining equal to the five year average pace.

56% of the current soybean crop was identified to be in good or excellent condition as of the week ending Aug 22^nd, down one percent from the previous week. The current soybean crop identified to be in good or excellent condition finished equal to analyst expectations. 16% of the current soybean crop was identified to be in very poor or poor condition, up one percent from the previous week.