Corn emergence support the USDA projection — Braun
As of August 18, 2019, corn plantings' condition in the United States deteriorated. Thus, 10% of areas are in excellent condition vs. 20% last year, USDA reports.
Karen Braun, Global Agriculture Columnist at Thomson Reuters, commented that the corn yield forecast for Ohio and South Dakota is 154.4 bsh/ac (14% lower from 2018) and 154.1 bsh/ac (13% lower), respectively. This confirms the reduced USDA corn yield forecast by 14%.
In the reporting period, the US corn crop condition was as followed:
- good — 46% (48% in the relevant period last year);
- fair — 30% (20%);
- poor — 11% (8%);
- very poor — 3 (4%).
95% of corn plantings entered the silking phase vs. 100% as of the corresponding date of last year.
Ohio #corn yield samples come in at 154.4 bu/acre, down 14% from last year's tour. USDA's corn yield projection is also down 14% YOY. Pod counts for #soybeans down 39% YOY, USDA's yield is down 17% YOY. #pftour19 pic.twitter.com/MMAesPpjp7— Karen Braun (@kannbwx) August 20, 2019
South Dakota #corn yields averaged 154.1 bu/acre on #pftour19, down 13% from last year's tour but only 3% off the recent average. Soybean pod counts come in at 833, down 19% YOY. USDA's yields are both down 2% YOY. pic.twitter.com/MScUlZVxb5— Karen Braun (@kannbwx) August 20, 2019
On August 12-13, CBOT corn futures with delivery in December fell by 9.9%, the largest 2-day drop for the most active contract since 2013, commented Karen Braun.