Aug 17, 2021

Reaction to the 2021 U.S. August Crop Report

Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.

The estimates released by the USDA in the August Crop Report were significantly below what the market had expected for corn and slightly below what the market had expected for soybeans. The corn yield was 4.9 bu/ac below trend and the soybeans were 0.8 bu/ac below trend.

Good weather thus far this summer in the eastern Corn Belt has led to estimated record corn yields in Illinois, Indiana, Ohio, Michigan, and Pennsylvania. For soybeans, record yields were estimated for Illinois, Indiana, Ohio, Mississippi, and Missouri.

I think the corn yields in North Dakota and Minnesota might be rated too low. The corn yields in the eastern Corn Belt are already record high, so they may not increase much going forward. In fact, the corn yield in Illinois may be a little too high due to extensive wind damage last week across parts of northern Illinois. For soybeans, the estimates may have been too low for North Dakota and maybe Minnesota.

State2021 U.S. August Corn YieldState2021 U.S. August Soybeans Yield
 bu/ac bu/ac
Illinois 214* Illinois 64*
Indiana 194* Indiana 60*
Iowa 193 Nebraska60
Ohio 193* Iowa 58
Nebraska186 Ohio 58*
Kentucky183 Kentucky54
Tennessee173 Mississippi54*
Missouri171 Louisiana52
Michigan169* Missouri50*
Wisconsin167 Arkansas49
Minnesota166 Tennessee49
Pennsylvania164* Wisconsin49
Texas 145 Michigan48
North Carolina 141 Minnesota43
Kansas 138 Kansas 41
South Dakota133 North Carolina 39
Colorado130 South Dakota39
North Dakota106 North Dakota24

*Denotes Record yield
Source - 2021 USDA August Crop Report