Aug 18, 2021
2021 U.S. Corn Estimate Unchanged at 175.5 bu/ac
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The 2021 U.S. corn estimate was left unchanged this week at 175.5 bu/ac, and I have a neutral to lower bias going forward.
The weather last week was similar to what has occurred over the last two months - generally favorable in the eastern Corn Belt and dryer than normal in the northwestern Corn Belt. But, even in the northwestern Corn Belt, there was some temporary relief to the dryness in selected areas. Temperatures were relatively cool last week across the central and western Corn Belt.
There are increased chances of rainfall forecasted for much of the Corn Belt both near term and long term. Temperatures are going to warm up for a few days and then turn cooler again in the long term. This appears to be a generally benign forecast especially for the middle of August.
The condition of the corn crop declined 2% this week to 62% rated good to excellent. The corn was 73% dough comparted to 74% last year and 68% average and the corn was 22% dented compared to 21% last year and 33% average.
In the August Crop Report, the corn planted and harvested acreage was unchanged from July, but that may change going forward. The corn planted acreage may increase maybe 500,000 acres, but much of that increase may be compensated for by increased abandonment especially in the northwestern Corn Belt.