Rains Lift Corn and Soybean Crop Condition Ratings

Posted on Mon, 07/27/2020 - 15:46

Ratings also improved for the cotton and spring wheat crops. 

Eighty-two percent of the U.S. corn crop was silking and 22% was in dough as of Sunday, which is seven and five points ahead of the respective five-year averages. USDA details that 22% of the Illinois crop is in dough (28% for the five-year average), with Indiana at 17% (12%), Iowa at 23% (13%), Kansas at 36% (24%), Minnesota at 15% (7%), Nebraska at 27% (16%) and South Dakota at 14% (8%).

Timely rains and a break from the heat led to an unexpected three-point jump in the amount of crop rated “good” to “excellent” (G/E), with 72% of the crop now falling in the top two categories. Analysts surveyed by Reuters expected no change on average. Also of note, the amount of crop rated “poor” to “very poor” (P/VP) edged a point lower to 7%.

 

This week

Last week

Year-ago

Very poor

2

2

3

Poor

5

6

9

Fair

21

23

30

Good

55

52

47

Excellent

17

17

11

 

Soybeans rating also rises unexpectedly

As of Sunday, 76% of the U.S. soybean crop was blooming, four points ahead of the five-year average, with 43% of the crop setting pods, which compares to the usual 36%. Thirty-six percent of the Illinois crop is setting pods (38% on average), with Indiana at 38% (36%), Iowa at 50% (38%), Minnesota at 55% (38%), Missouri at 27% (21%), Nebraska at 53% (33%) and South Dakota at 49% (31%).

USDA hiked the amount of soybeans rated G/E three percentage points to 72%, whereas traders expected no change. The amount of crop falling in the lowest two categories also improved by a percentage point, with 6% of the crop rated P/VP.

 

This week

Last week

Year-ago

Very poor

1

2

3

Poor

5

5

10

Fair

22

24

33

Good

57

54

45

Excellent

15

15

9

 

Spring wheat ratings improve as harvest kicks off

USDA reports 97% of the spring wheat crop was headed, and 1% of it had been cut as of Sunday, which compares to 98% headed and 3% harvested for the five-year average.

Timely rain helped spring wheat ratings climb two percentage points to 70% G/E as of Sunday; analysts surveyed by Reuters expected no change. Last year at this time, 73% of the crop fell on the top two categories.

 

This week

Last week

Year-ago

Very poor

2

2

1

Poor

4

5

5

Fair

24

25

21

Good

60

55

62

Excellent

10

13

11

 

Cotton ratings improve again

USDA reports that 84% of the U.S. cotton crop was squaring as of Sunday, which is right in line with the five-year average, and 42% of the crop was setting bolls, two points behind average. Just over a third of the Texas crop was setting bolls on Sunday as Hurricane Hanna brought heavy rains to some areas of the state.

Cotton condition ratings improved the week ended July 26, with USDA raising the amount of cotton rated G/E by two percentage points to 49%; that’s still 12 points under year-ago levels, however.

 

This week

Last week

Year-ago

Very poor

3

5

1

Poor

13

17

10

Fair

35

31

28

Good

40

39

46

Excellent

9

8

15

                                                                               

Winter wheat harvest continues at a fairly typical pace

Analysts have consistently overestimated week-to-week winter wheat harvest progress and this week was no exception. USDA reports 81% of the crop had been harvested as of Sunday, which was two points lighter than analysts expected but near in line with the five-year-average. Most of the largest producing states are wrapping up or finished. Harvest is complete in Arkansas, Indiana, Missouri, North Carolina, Ohio, Oklahoma, and Texas.