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USDA: Nebraska's Corn Crop Is Way Ahead Of Schedule

U.S. corn crop rating drops, remains high.

DES MOINES, Iowa -- U.S. corn and soybean crops enter the most critical time of the summer with outstanding ratings, according to the USDA Crop Progress Report Monday.

Though the good/excellent rating for the soybean crop is equal to a week ago and corn’s rating slipped one percentage point, both crops are maintaining very favorable conditions.

Today’s ratings came in at expected levels by the trade.

CORN

The U.S. corn crop is rated 75% good/excellent, slightly below last week’s rating of 76%, but way ahead of 65% a year ago.

Individual states such as Nebraska is sporting a 86% good/excellent rating. The 'corhusker' state's corn is silking at a rate of 31% vs. a 13% five-year average. meanwhile, Illinois' corn is rated 81% good/excellent and Iowa 78%.

USDA pegged 37% of the corn crop as being in the silk stage, vs. an 18% five-year average.

SOYBEANS

In its report, USDA pegged the U.S. soybean crop condition for soybeans at 71% good/excellent, similar to a week ago and a 62% year ago average..

USDA rated 47% of the soybean crop in the blooming stage vs. a 27% five-year average.

WHEAT

USDA reported that 63% of the U.S. wheat wheat is harvested vs. a 61% five-year average.

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