August 19, 2026
Grain Overview
The Pro Farmer Crop Tour rolled into Indiana and Nebraska yesterday as it works toward the center of the Midwest. Again, corn yields and pod counts were disappointing. Both Nebraska and Indiana came in below last year. Corn yields in both states were around 10 BPA below last year, with pod counts in Indiana lower by 4% and Nebraska off almost 10%. The USDA went in the right direction on the August crop report, and September is statistically on track for another reduction, with corn yield potentially falling below 180 BPA. Meanwhile, the 53 BPA soybean yield is suspect and looks likely to decline further. Carryouts on corn and soybeans are on the decline.
As the tour moves into the heart of the Midwest in Iowa and Illinois today, nitrogen leaching is expected to have reduced the length and width of cobs. If the tour produces yields below last year again, then reality will start setting in for the perma-bears that August weather will not be able to save the crop and produce the hoped-for 184+ BPA corn and 53 BPA soybeans. StoneX, which typically guesses final yields, will be scrambling to reassess.
