US Corn Crop Suffers Sharpest Weekly Decline in Nearly Two Decades

The US corn crop suffered its sharpest weekly decline in nearly two decades due to an intense heatwave that swept across the Midwest and Great Plains during the final week of July. According to the USDA's latest Crop Progress report, released on July 27, good-to-excellent corn ratings fell four percentage points to 63%, a decline not seen at this stage of the growing season since 2007.

The rapid decline surprised even the most bearish grain analysts, who had anticipated some deterioration after several days of triple-digit heat indices but not one of this magnitude. The combination of extreme temperatures and expanding drought stress accelerated crop deterioration across much of the western Corn Belt.

Despite the setback, the crop continues to advance rapidly through key reproductive stages, suggesting that timing of future rainfall will play a decisive role in determining final yields during August. According to USDA weather bulletins, cooler temperatures are expected to replace the recent heat across much of the Midwest during the remainder of the week.