Soybean Crop Conditions – 08/31/2020

This week USDA dropped the U.S. soybean crop rating to 66% good or excellent compared to 69% the previous week and the 30 year average 56% for the same week. Our crop conditions model projects a national average soybean yield of about 50 bushels per harvested acre compared to the USDA August estimate of 53 bushels per acre.We doubt the final estimate well fall as low as our estimate but there is room for the USDA to drop the soybean crop estimate  from August.