Porto Alegre, August 21, 2023 – The conditions of US soybean crops registered a strong improvement between August 7 and 13, extending the movement registered in the previous week. Now, the national indices are above those registered at the same time last year, which is the first time this season. We remember that, recently, USDA reduced the estimate of productivity of US crops, but the improvements of the last two weeks have not certainly been accounted for in this adjustment.
According to USDA, through August 13, 59% of US soybean crops were in good or excellent conditions, 29% in fair conditions, and 12% in poor or very poor conditions. In the previous week, the percentages were 54%, 32% and 14%, respectively. At the same time in 2022, the crop conditions were 58% good or excellent, 30% fair, and 12% poor or very poor.
The period between August 11 and 17 was one of greater moisture over much of the belt, except for the states further west, which received little or no moisture. In any case, we expect maintenance or a slight improvement in the national indices in the report this Monday (21).
Weather forecasts now point to low moisture over most of the main growing belt states in the period between August 18 and 24. Besides, temperatures should be above average in the period. This environment must be unfavorable to crop development, which can lead to a worsening of conditions indices.
In the period between August 25 and 31, moisture should be higher over the belt, but even so, no higher accumulated expectation is expected.
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