Home / News / Crops news / USDALittle change in corn, soybean ratings

USDALittle change in corn, soybean ratings

Agriculture.com Staff 08/06/2007 @ 2:25pm

Corn conditions declined slightly in the past week, falling within trade estimates. But, because of Corn Belt rains in the last 24 hours, conditions may slightly higher than those reported in this week's USDA-NASS Crop Progress report released Monday afternoon.

According to a Dow Jones Newswires report, analysts expected a three- to five-percent drop in good-to-excellent corn ratings in Monday's report. The two-percent actual drop -- from 58% last week to 56% this week -- should cause little market reaction especially with rains in the Corn Belt in the last 24 hours, analysts said.

Soybean conditions saw a drop identical to corn: Fifty-six percent of the crop is in good to excellent condition this week, compared to 58% this week. Other crops saw little or no change in ratings in the past seven days.

Progress-wise, winter wheat harvest is pegged at 94%, identical to last year at this time and ahead of the 91% previous five-year average. Corn silking is right on schedule at 96% this week, also identical to the previous five-year average. Similarly, soybean pod-setting is at 69%, the same as in 2006 but slightly ahead of the 61% previous five-year average for this week of the year.

Corn conditions declined slightly in the past week, falling within trade estimates. But, because of Corn Belt rains in the last 24 hours, conditions may slightly higher than those reported in this week's USDA-NASS Crop Progress report released Monday afternoon.

CancelPost Comment
MORE FROM AGRICULTURE.COM STAFF more +

Farm and ranch risk management resources By: 07/07/2010 @ 9:10am Government resources USDA Risk Management Agency Download free insurance program and…

Major types of crop insurance policies By: 07/07/2010 @ 9:10am Crop insurance for major field crops comes in two types: yield-based coverage that pays an…

Marketing 101 - Are options the right tool… By: 07/07/2010 @ 9:10am "If you are looking for a low risk way to protect yourself against prices moving either higher or…

MEDIA CENTERmore +
This container should display a .swf file. If not, you may need to upgrade your Flash player.
Looking Out for Soybean Cyst Nematodes