USDA Crop Progress
Soybeans
After the close of pit trading, the USDA reported good to excellent weekly crop condition ratings for soybeans at 67 percentage points. This was unchanged from last week and was higher than trade expectations, as a slight decline had been anticipated. Crop advancement is probably more important than anything else at the moment. The USDA said that 76% of the crop was in the blooming stage, up from 63% last week but down from the average of 86%. They added that 36% of the crop was setting pods, up from 20% last week but down from the average of 54%.
Corn
The USDA reported good to excellent weekly crop condition ratings for corn at 68 percentage points. This was 2 percentage points lower than last week and fell within trade expectations. They said 76% of the crop was silking well below the five-year average of 89%. They said 76% of the crop was silking, up from 55% the previous week but down from the five-year average of 89%. They also said that 14% of the crop was in the dough stage compared to the five-year average of 29%.
Wheat
The USDA reported good to excellent weekly crop condition ratings for spring wheat at 71 percentage points, which was 3 points down on last week and the lowest so far this season. Winter wheat harvested was 85% completed, which is 5% lower than the 5-year average.
After the close of pit trading, the USDA reported good to excellent weekly crop condition ratings for soybeans at 67 percentage points. This was unchanged from last week and was higher than trade expectations, as a slight decline had been anticipated. Crop advancement is probably more important than anything else at the moment. The USDA said that 76% of the crop was in the blooming stage, up from 63% last week but down from the average of 86%. They added that 36% of the crop was setting pods, up from 20% last week but down from the average of 54%.
Corn
The USDA reported good to excellent weekly crop condition ratings for corn at 68 percentage points. This was 2 percentage points lower than last week and fell within trade expectations. They said 76% of the crop was silking well below the five-year average of 89%. They said 76% of the crop was silking, up from 55% the previous week but down from the five-year average of 89%. They also said that 14% of the crop was in the dough stage compared to the five-year average of 29%.
Wheat
The USDA reported good to excellent weekly crop condition ratings for spring wheat at 71 percentage points, which was 3 points down on last week and the lowest so far this season. Winter wheat harvested was 85% completed, which is 5% lower than the 5-year average.