SIOUX FALLS, South Dakota, Aug 18 (Reuters) - U.S. Crop Watch corn and soybeans finally received good rains last week, mostly maintaining crop potential ahead of what looks to be a dry finish to August.

Many areas have received below-average rains over the last several weeks, but cooler-than-normal temperatures have helped preserve soil moisture and have been beneficial for filling corn kernels.

Nine of the 11 Crop Watch locations received between 1 and 3 inches of rain over the last seven days. Nebraska had a half inch and Ohio, which has grappled with drought this summer, received a couple tenths of an inch.

The next two weeks could feature well-below-average rainfall across much of the Corn Belt, though most Crop Watch producers were not particularly concerned given last week's rain and continued mild temperatures for at least the next few days.

Crop Watch producers have been rating yield potential on a 1-to-5 scale. Yield potential incorporates both visible and non-visible elements where 3 is around farm average yield, 4 is solidly above average and 5 is record or close to it.

The 11-field, average corn yield dropped to 3.27 from 3.3 in the previous week based on a 0.25-point trim in southeastern Illinois, which is now rated 4.5 due to some inconsistencies in the field related to the wet spring.

Average soybean yield fell to 3.57 from 3.64 in the prior week. Despite 0.25-point boosts in both Iowa fields, dryness clipped North Dakota beans by 0.25-point and Ohio by a full point.

Nationally, Illinois, Iowa and Indiana account for 39% of corn and 37% of soybean production, and the five I-state Crop Watch locations carry soybean yield scores between 4.25 and 5. The other six locations are cumulatively a tad below average, reinforcing the role of the I-states in the U.S. Department of Agriculture's record soy yield outlook.

That same idea holds true for corn, though the mid-July storm took away high yield potential in the Crop Watch field in western Illinois. Other I-state producers are feeling good about their corn but hesitate to declare new records.

For example, the western Iowa producer is unsure his corn will beat 2021's record as that crop underwent perfect planting and timely, well-spaced rains, though there is some unevenness in this year's crop because of early wetness.

The Minnesota and South Dakota producers expect average yields in their corn fields, but the recent cool weather has slowed crop development, causing both to raise concerns about reaching maturity on time.

The following are the states and counties of the 2024 Crop Watch corn and soybean fields: Kingsbury, South Dakota; Freeborn, Minnesota; Burt, Nebraska; Rice, Kansas; Audubon, Iowa; Cedar, Iowa; Warren, Illinois; Crawford, Illinois; Tippecanoe, Indiana; Fairfield, Ohio. The North Dakota soybeans are in Griggs County and the corn is in Stutsman County.

Karen Braun is a market analyst for Reuters. Views expressed above are her own.

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https://www.reuters.com/markets/commodities/crop-watch-rains-quench-crops-ahead-upcoming-dry-stretch-2024-08-19/