U.S. corn, soybean crops stumble to the finishline, USDA report shows

Iowa's corn rating falls two points vs. a week ago.

The U.S. corn and soybean crops record yet another week of failing ratings, according to the USDA. 

The drop of a few points is what the trade expected, the USDA Crop Progress Report said Monday.

CORN

In its report, the USDA’s estimate of corn with a good/excellent rating is 61% vs. 62% a week ago and 55% a year ago.

The Iowa corn crop, as of Sept. 7, 2020, has a good/excellent rating of 43%, a two point drop from a week ago. Illinois’ corn is rated at 70%, 62% for Nebraska, and 61% for Indiana’s corn.

Meanwhile, 97% of the nation’s corn is in the dough growth stage vs. a 94% five-year average.

The USDA pegged the U.S. corn as 79% dented vs. a 71% five-year average.

The USDA has pegged the U.S. corn as 25% mature, above a 19% five-year average. 

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SOYBEANS

USDA rated 20% of the U.S. soybean crop is dropping leaves vs. a 16% five-year average.

In its report, the USDA estimates the soybean good/excellent rating at 65% vs. 66% a week ago, and 55% a year ago.

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WHEAT

In its report Monday, the USDA rated the U.S. winter wheat crop as 5% planted vs. an 3% five-year average.

Crop progress and condition estimates are based on survey data collected each week from early April through the end of November, according to the USDA report. “The non-probability crop progress and condition surveys include input from approximately 3,600 respondents whose occupations provide them opportunities to make visual observations and frequently bring them in contact with farmers in their counties. Based on standard definitions, these respondents subjectively estimate the progress of crops through various stages of development, as well as the progress of producer activities. They also provide subjective evaluations of crop conditions,” the USDA stated in its Monday report.

Most respondents complete their questionnaires on Friday or early Monday morning and submit them to the National Agricultural Statistics Service (NASS) field offices in their states by mail, telephone, fax, email, or through a secured internet website. A small number of reports are completed on Thursday, Saturday, and Sunday. Regardless of when questionnaires are completed, respondents are asked to report for the entire week ending on Sunday, according to the report.

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