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.

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.