Ahead of the latest crop progress report from USDA, out Monday afternoon and covering the week through July 16, analysts were expecting to see two-point improvements to corn and soybean quality following some helpful rains over the past few days. USDA did in fact boost corn quality by two points in today’s report but also unexpectedly shifted soybean quality four points higher. And winter wheat harvest finally crossed the halfway mark in what has been a relatively sluggish endeavor so far.
Corn quality trended another two points higher last week, with 57% now rated in good-to-excellent condition. That also mirrored analyst expectations. Another 30% is rated fair (down one point from last week), with the remaining 13% rated poor or very poor (also down one point from last week). Of the top 18 production states, North Carolina (81%) has the highest quality crop at this point.
Physiologically, 47% of the crop is now silking, up from 22% a week ago and favorable to the prior five-year average of 43%. And 7% has reached dough stage, up from 2% last week and slightly ahead of the prior five-year average of 6%.
Analysts were expecting USDA to raise soybean quality ratings by another two points, but the agency served up a four-point gain, with 55% of the crop now rated in good-to-excellent condition. Another 32% is rated fair (down two points from last week), with the remaining 13% rated poor or very poor (down two points from last week).
Physiologically, 56% of the crop is now blooming, up from 39% last week and moderately above the prior five-year average of 51%. And 20% is now setting pods, up from 10% a week ago and slightly swifter than the prior five-year average of 17%.
Winter wheat harvest progress moved from 46% a week ago up to 56% through Sunday. That was slightly below the average trade guess of 57% and noticeably slower than the prior five-year average of 69%.
Source: farmprogress.com
Photo Credit: istock-urpspoteko
Categories: Kansas, Crops, Soybeans