Dry Weather and Derecho Windstorm in Iowa
Has Set Back the Corn Crop
August 24, 2020
Surveys of corn yield in the US Midwest last week estimated 2020 corn yields will likely total 177.5 bushels per acre (bpa). The USDA continues to survey the damage to the Iowa crop from the August 10 Derecho windstorm and with dry weather conditions persisting across the Midwest Corn Belt, today’s Crop Progress report shows a significant downgrade in corn quality. The report for August 9 showed 69% of the Iowa’s corn crop to be in good to excellent condition with the biggest quality decrease in Iowa, compared to today’s report for August 16, which shows 58%.
The chart below can be constructed in the Fundamental Analytics platform under Fundamentals > NASS > Corn > Condition > Excellent + Good > Iowa.
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The Fundamental Analytics Team
The information provided here is for general informational purposes only and should not be considered individualized investment advice. All expressions of opinion are subject to change without notice in reaction to shifting market conditions.