Crop Conditions Set Trendline Yields Within Reach for Corn and Soybeans

The USDA's Crop Progress reports provide a snapshot of the nation's corn and soybean crops. The mid-growing season data show that both crops are on a path to trendline yields, with 68% of the national corn crop rated good to excellent and 65% of the soybean crop rated good to excellent.

These ratings indicate that while both crops are slightly poorer than last year's at this time, they are still slightly better than the five-year average. For corn, the rating is 6% below last year's crop but roughly 2% above the five-year average. For soybeans, the rating is 5% below last year's crop but still roughly 2% above the five-year average.

Given that the current crop conditions are above the five-year averages for this time of year, the ratings point to the potential for yields at or better than trend. In terms of usage, international markets are driving growth in corn exports, while domestic demand is supporting soybean sales.