Corn, soybean decline continues -- USDA
Another week of mostly hot, dry weather in the majority of the Corn Belt means another week of declining corn and soybean conditions, according to Monday's USDA-NASS Crop Progress report.
As of Sunday, 63% of the nation's corn crop is in good to excellent condition, down 3% from the previous week. The amount of crop in poor condition inched up by 1% while the amount of acres in fair shape was raised 2%. Soybean conditions saw a similar slip; as of Sunday, 56% of the crop is in good-to-excellent condition versus 60% last week, while the number of soybean fields in the lower 3 quality categories inched higher.
Despite weekend rainfall in many areas, there's a major moisture shortage underway in much of the Corn Belt. It's a compounding problem for a lot of farmers whose corn crop is starting to enter a critical time in the growing season.
"Mother Nature always bats last. Really could use a rain in southwest Missouri. Corn's pollinting the last 10 days or so. At this rate, I'll be doing good to beat last years 30-bushel average. I have never seen it go 2 Junes in a row and not rain. Incredible," says Agriculture.com Marketing Talk contributor turdypointbuck.