It’s September and 14% of the U.S. soybean Crop Has Yet to Set Pods

Posted on 09/03/2019 4:06 PM

Corn rating climbs a point, as expected

 USDA raised the amount of corn it rates “good” to “excellent” by one percentage point to 58%, signaling rains and mild temperatures benefited Midwest crops. But that’s still nine percentage points under year-ago. And the crop remains quite a ways from the finish line.

USDA details that as of Sunday, 81% of the crop was in dough versus 93% on average for this point in the season, 41% is dented versus 63% on average and 6% of the crop was mature versus 13% on average. Of the major producing states, USDA signals that Kansas is farthest along with 16% mature (26% on average), followed by Missouri at 6% (29%) and Illinois at 2% (18%). Indiana, Iowa, Nebraska and Ohio are all at 1% mature versus the usual 13% mature for Indiana and 7% norm for the three other states at this point in the season. Minnesota and South Dakota do not yet have a measurable amount of corn mature, which compares to the usual 2% and 6% mature, respectively, for this point in the season.  

 

This week

Last week

Year-ago

Very poor

3

3

4

Poor

10

10

8

Fair

29

30

21

Good

47

47

46

Excellent

11

10

21

 

 

It’s September and 14% of the U.S. soybean crop has yet to begin setting pods

USDA made no change to its crop condition rating this week, leaving 55% of the crop in “good” to “excellent” shape. Analysts surveyed by Reuters on average expected a one-point gain for the top two categories.

As of Sept. 1, USDA reports 96% of the crop had bloomed (versus 100% on average) and 86% of the crop was setting pods, which is a 10-point lag versus the five-year average.

Considering it’s September, it’s pretty remarkable to consider 16% of the Illinois crop had yet to set pods (versus the usual 3%), along with 24% of the Indiana crop (3% average), 10% of the Iowa crop (4%), 26% of Missouri’s (14%), 10% of Nebraska (2%), 7% of North Dakota (1%) and 15% of the South Dakota crop (3%). The one major producing state that was running near in line with the norm is Minnesota, with 97% setting pods versus 98% on average.  

 

This week

Last week

Year-ago

Very poor

3

3

3

Poor

10

10

8

Fair

32

32

23

Good

46

46

49

Excellent

9

9

17

                                                                               

 

Spring wheat harvest and condition ratings fall short of expectations

Over the past week, spring wheat harvest jumped 17 percentage points to 55% complete, which was just a few points slower than anticipated and 23 points behind the five-year average pace. Top-producing North Dakota has cut just over half (52%) of its crop.

The condition rating of the crop also came in a bit lighter than expected, with USDA lowering the amount of crop in the top two categories two percentage points to 67% “good” to “excellent.” Traders had anticipated no change. Last year at this time, 74% of the crop garnered top marks.

 

This week

Last week

Year-ago

Very poor

2

1

1

Poor

6

5

4

Fair

25

25

21

Good

58

60

63

Excellent

9

9

11

 

Cotton condition ratings climb, but Dorian could cause some problems

USDA reports 97% of the U.S. cotton crop was setting bolls as of Sunday and 36% of the crop had bolls open, which is 9 percentage points more advanced than the five-year average. That figure includes 42% of the Georgia’s crop, 28% of North Carolina’s and 40% of South Carolina’s. These states are expected to see heavy rain, flooding and high winds in association with Hurricane Dorian, beginning tomorrow.

Meanwhile, the trend of fairly significant shifts in the amount of top-rated cotton continues. This week features a five-point rise in the amount of cotton rated “good” to “excellent.” The percentage of crop rated “poor” to “very poor” dropped two points to 15%.

 

This week

Last week

Year-ago

Very poor

1

2

15

Poor

14

15

18

Fair

37

40

26

Good

39

35

31

Excellent

9

8

10

                                                                               

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