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Can You Say, ‘Uh Oh?’ USDA Keeps Dropping Crop Ratings

Spring wheat ratings keep falling, too.

DES MOINES, Iowa --The U.S. corn and soybean crop conditions continue to weaken, as the hot and dry weather threatens corn pollination and soybean pod-setting stages.

In its weekly Crop Progress Report, the USDA dropped both crops’ good-to-excellent ratings, for the fourth week in a row, while the spring wheat crop continues to deteriorate.

Meanwhile, the corn crop rating is worse than the 2013 crop at this point in the growing season.

CORN

As of Sunday, 64% of the U.S. corn crop had been rated good/excellent, below the 65% rating a week ago but within the trade’s expectations, according to the USDA Crop Progress Report Wednesday.

The governmental agency noted that Minnesota’s corn crops are rated at 79% good-to-excellent condition, while Iowa’s crop rating is pegged at 71%; both state ratings are below a week ago. USDA pegged the amount of the U.S. corn in the silking stage at 40%, below a 47% five-year average.

071717corn

Click on the map to see state-by-state differences for corn condition.

SOYBEANS

For soybeans, 52% of the nation’s crop is blooming vs. a 51% five-year average. USDA pegged soybeans that are setting pods at 16% vs. a 13% five-year average.

The U.S. soybean crop good/excellent rating is at 62% vs. a 64% rating a week ago and a 71% rating a year ago.

071717beans

Click on the map to see state-by-state differences for soybean condition.

WHEAT

The USDA pegged the U.S. spring wheat crop as 34% good-to-excellent, below 35% a week ago.

Al Kluis, Kluis Commodities, says that today’s USDA report is friendly for prices tonight. 

“I expect corn to start out 1¢ to 2¢ higher tonight. I expect soybeans to start out 1¢ to 2¢ higher tonight. And this report is friendly for spring wheat prices. I expect prices to be 1¢ to 3¢ higher tonight,” says Kluis.

 

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