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August 18, 2020

2020 U.S. Corn down 2% to 69% gd/ex, Soy down 2% to 72%

Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.

Corn - The condition of the 2020 U.S. corn crop declined 2% last week to 69% rated good to excellent. Nine states indicated that the corn condition improved while 9 states indicated that the corn condition declined last week. Most of the improvements were found in the eastern and southern states while most of the declines were found in the central and northern states. The top five rated corn states are: Wisconsin, Minnesota, Kentucky, and a tie between Illinois, Nebraska, and South Dakota. The five lowest rated corn states are: Colorado, Texas, Pennsylvania, Ohio, and Iowa.

Two things are impacting the corn crop right now, how much damage was caused by the derecho storm last Monday and the current dry weather pattern. The storm damage to the corn crop was so unprecedented in its scope and severity, that it is very difficult to calculate the scope of the damage at this time.

Soybeans - The condition of the 2020 U.S. soybean crop declined 2% last week to 72% rated good to excellent. Eight states indicated that the soybean condition improved last week, 9 states indicated that the soybean condition declined last week, and 1 was unchanged. Most of the improvements were found in the southern and northern states while most of the declines were found in the central and western states. The top five rated soybean states are: Wisconsin, Louisiana, Minnesota, Kentucky, and South Dakota. The five lowest rated soybean states are: Ohio, Iowa, North Carolina, North Dakota, and Mississippi.

The same two factors are impacting the soybeans as well, storm damage and dry weather. The soybeans were not impacted by the derecho storm as much as the corn, but the soybeans may be more impacted by the dry weather than the corn.

Soil Moisture - The nation's soil moisture declined last week with 9 states indicating improved soil moisture last week and 9 states indicating lower soil moisture last week. Most of the improvements were found in the southern and northern states while most of the declines were found in the central and western states. The five states with the best soil moisture are: North Carolina, Minnesota, Kentucky, Missouri and a tie between Illinois, and Indiana. The five states with the lowest soil moisture are: Iowa, Arkansas, Ohio, Michigan, and Mississippi.

Everyone is focused on the storm damage and rightly so, but while the storm had extreme winds, it did not produce much rainfall. The soil moisture declined last week for the second week in a row and it should decline again next Monday.