USDA cuts the soybean crop rating modestly – 08/17/2020
The USDA rated 72% of the soybean crop in good or excellent condition as of 8/16/2020 compared to 74% the previous week and the 31-year average of 57%. Ratings normally drop slightly in August as can be observed in the chart. Last week’s storm damage would amount to less than one half bushel per harvested acre based on historical data. The standard deviation of the Final yield and the August estimate is slightly less than two bushels per acre.