Crop condition improvement continues
Winter wheat conditions were unchanged at 34% G/E, likely the last week conditions will be released. Our Pro Ag yield model rose a large 0.31 bu/acre to 45.23, but we are quickly losing data and the yield model is becoming more unreliable. Actual yields still seem to be coming in better than expected, and the weather is ideal for harvest (hot and dry). We are now 57% harvested, just 7% behind average. So we are quickly catching up to average pace, meaning double-crop soybeans can be quickly planted on harvested winter wheat acreage.
HRS wheat conditions continue to improve rapidly, up another 4% this week to 72% G/E, well above last year's 66% when we had a record large yield.
Barley conditions declined 2%, though, to 66% G/E but still well above last year's 57%. Pasture conditions declined 2% to 49% G/E, but well above last year's 21% G/E meaning more feed is available to cattle producers (along with large hay yields due to wet conditions). Oat condition remained at 59% G/E, while cotton conditions declined 3% to 44% G/E, and sorghum conditions were down 5% to 44% G/E due to heat in the HRW wheat country. But rice condition improved 3% to 69% G/E as the Delta continues to improve as it dries out somewhat.
Weather remains favorable for most of the Midwest, with cool temps and moderate rainfall in the eastern Corn Belt and continued forecasts of cool and wet conditions across the entire Corn Belt the next two weeks.
These are favorable forecasts (although it remains hot in the HRW wheat belt, which hurts late-season crops but advances the wheat harvest). The next five days will include normal rainfall (.5 to 1.5") in the central and eastern Corn Belt as well as the Northern Plains. However, it will be relatively dry in the western Corn Belt, although the heat will be limited to the far western Corn Belt and northern Plains (where heat might help to accelerate late-crop development - a bearish development).
Planting of crops in the northern U..S and central Corn Belt has likely ended (with North Dakota only getting 90% of sunflowers planted by July 7), while double-crop soybeans might still be planted in central and southern Corn Belt locations. Actually, a great deal of acreage was planted from June 10-July 1, with many producers planting well beyond the final crop insurance planting date, accepting 1% lower coverage per day planted late.