USDA: Corn Crop Improves, Soybeans Hold Steady
DES MOINES, Iowa (Agriculture.com)—The U.S. corn crop's condition is improving, while the soybean ratings hold steady compared to last week, according to the USDA Monday.
In its Weekly Crop Progress Report, the USDA rated the U.S. corn as 70% good/excellent, vs. 69% a week ago. The crop remains behind the five-year good/excellent average of 75%.
Also, 78% of the corn crop is silking vs. 55% a week ago. The USDA sees 14% of the U.S. crop in the dough stage, compared with the 17% five-year average.
USDA rated the U.S. soybean crop as 62% good/excellent, equal to a week ago and behind a 71% rating a year ago.
The U.S. Winter Wheat Harvest is 85% complete, compared with 75% a week ago.
Al Kluis, Kluis Commodities, says the report will be neutral to negative for corn’s market overnight tonight. The report data could be neutral-to-slightly positive for soybeans, he says.
“For corn, the best crops are in Iowa, Minnesota, and Wisconsin. The problems are in the central and eastern Corn Belt. The 70% good to excellent rating compares to 75% last year.
For soybeans, the excellent ratings dropped by 1% and the good ratings went up by 1%. “This compares to 71% rated good to excellent last year. The crop is not as large as last year,” Kluis says.