USDA’s Crop Ratings Move Ahead for Corn, Drop for Soybeans
DES MOINES, Iowa — The U.S. soybean crop condition rating is downgraded over last week, while corn edges higher.
In its Weekly Crop Progress Report Monday, the USDA rated corn crop as nearly fully emerged, while 10% of the soybeans are still underground.
The ratings came in within trade expectations.
The U.S. corn crop is rated 78% good/excellent, slightly ahead of last week’s rating of 77% but way ahead of last year’s rating of 67%.
In its report, USDA pegged the U.S. soybean crop condition for soybeans at 73% good/excellent, one point below a week ago but well over the 67% from a year ago.
USDA reported that 78% of the U.S. spring wheat is rated as good/excellent vs. a 70% week ago.