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USDA Lifts Soybean Ratings, Leaves Corn Unchanged

Almost half of soybean crop is setting pods.

DES MOINES, Iowa -- U.S. corn and soybean good/excellent ratings come in better than the trade had expected.

Today’s ratings for corn maintained last week’s levels, while soybeans gained, opposite of what the trade estimated.

CORN

On Monday, the USDA Crop Progress Report pegged the U.S. corn crop as 72% good/excellent, unchanged from a week ago.

USDA pegged 81% of the corn crop as being in the silk stage vs. a 62% five-year average.

Also, 18% of the corn has entered the dough stage, compared with an 8% five-year average.

SOYBEANS

In its report, USDA pegged the U.S. soybean crop condition at 70% good/excellent, above a week ago rating of 69%.

USDA rated 78% of the soybean crop in the blooming stage vs. a 63% five-year average.

Also, 44% of the soybean crop is setting pods vs. a 23% five-year average.

WHEAT

USDA reported that 80% of the U.S. wheat wheat is harvested vs. a 79% five-year average.

 

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