USDA released its weekly Crop Progress report yesterday afternoon with national ratings for both corn and soybeans falling off of recent highs. Still, overall conditions remain the best in years.
For the week ending July 27th, U.S. corn conditions were rated 75% good excellent, down 1% from the week before as rains were minimal in growing areas. The western cornbelt saw the most prevalent declines with North Dakota, South Dakota, Nebraska and Kansas all falling. Heat early in the week was also attributed for part of the decline The result in other states was mixed, although Kentucky was the most notable decline at 9%. Still, U.S. corn conditions remained the highest for this date since 2004. Accordingly, private yield estimates from various firms have continued to creep higher. The crop was also reported at 78% silked, ahead of the 75% average.
As for soybeans, conditions declined slightly more, with ratings down 2% on the week to 71% good to excellent. Again, the bulk of declines were located in the western cornbelt were soils were drier although losses were slightly higher than in corn. Of the major production states, Minnesota and Iowa were unchanged while Illinois was up 1% and Indiana was down 1%. Again, Kentucky was the hardest hit, down 11%. All that said, weather forecast are basically non threatening in the coming week with temperatures average to below although rains remain sparse at least over the next few days. With the crop 38% setting pods, soybeans conditions were the best since 1997.
As for wheat, conditions were unchanged for spring wheat and in line with the five year average for this date. The hard red spring crop is nearly complete in terms of heading progress with weather cool and basically dry, although the western plains will see more rain than the east. Winter wheat harvest is moving into South Dakota and reported at 83% complete compared to 80% on average. South Dakota remains behind at 27% complete compared to 55% on average. There have been some limited reports of scab in the state, but overall the outlook remains favorable.Share