The latest USDA Crop Progress report for the week ending Aug. 26, released Monday afternoon, showed soybean condition improve by a point, while corn made a more complicated move, losing a point rated “good” but picking up a point rated “excellent.” In both cases, however, the result was the same – a slightly higher yield potential, according to Farm Futures senior grain market analyst Bryce Knorr.

“Both corn and soybean ratings showed slight improvement this week,” he says.

For corn quality, USDA rated 47% of the crop good and another 21% rated excellent, versus 48% and 20% the week prior. Another 20% of the crop is rated poor, with the remaining 12% rated poor or very poor – all unchanged from a week ago.

“Corn yields gained around two-tenths of a bushel per acre, with the average of our two models at 176.7 bushels per acre,” Knorr says. “Though the yield based on state ratings was unchanged at 177.3 bpa, USDA’s national rating edged higher to 176.1 bpa.”

Physiologically, 92% of the corn crop is now at dough stage, versus 85% a week ago and 2017’s pace of 85%. Another 61% of the crop is at dented stage, up from 44% a week ago and well ahead of last year’s pace of 42%. And USDA considers 10% of the crop mature, up from 5% a week ago and ahead of the five-year average, also at 5%.

Soybean crop quality moved from 67% rated in good-to-excellent condition the week prior to 68%. Another 23% of the crop is rated fair (down 1 point from the week prior), with the remaining 11% rated poor or very poor (unchanged from the week prior).

“Average soybean yield potential rose a third of a bushel per acre to 50.6 bpa, with both models advancing,” Knorr says. “The projection based on state ratings is at 50.1 bpa with the projection from the USDA’s nationwide rating at 51 bpa.”

Physiologically, 95% of the crop is setting pods, which is up from 91% a week ago, and moderately ahead of 2017’s pace of 92% and the five-year average of 90%. Another 7% of the crop is now dropping leaves, also up from 2017’s pace of 5% and the five-year average of 4%.

The spring wheat harvest made some headway this past week, reaching 77% complete, versus 60% the week prior. That pace puts it slightly ahead of 2017 (73%) and moderately ahead of the five-year average (61%).

The sorghum harvest is also underway, reaching 20% complete – in line with 2017’s pace of 21% and the five-year average of 21%.

Farther south, the U.S. cotton crop nears harvest, with 21% of the crop at open-boll stage. That’s slightly ahead of 2017’s pace of 17% and the five-year average of 18%.