U.S. Corn, Soybean Ratings Continue to Be Dismal, USDA Crop Progress

DES MOINES, Iowa — While all of the corn crop is still not planted, the first U.S. soybean crop condition rating of the year is sharply below a year ago’s rating.

Today’s grading of the soybean crop’s condition is the lowest initial rating of the year since 1992, when it hit 52%.

Corn

In its Crop Progress Report Monday, the USDA pegged U.S. corn planting at 96% complete, behind the 100% five-year average.

The planting rate is below what the trade had expected.

In its report, the USDA pegged the corn crop as in 56% good/excellent condition, below last week’s 59% rating.
 
As of Sunday, Ohio’s corn crop was rated 39% good, excellent; Indiana 43%, Illinois 47%, Iowa 62%, and Nebraska 77%.
 
Also, 89% of the U.S. corn has emerged vs. a 99% five-year average.

Soybeans

In its report, the USDA pegged the U.S. soybean planting completion rate at 85% vs. a 97% five-year average.

The nation’s crop is rated as 54% good/excellent vs. a 73% rating at this time a year ago.
 
Also, 71% of the U.S. soybean crop has emerged vs. 91% five-year average.

Wheat

The USDA pegged the U.S. winter wheat harvest at 15% complete vs. a 34% five-year average.