Market News & Headlines >> Corn, Soybean Crops Off to Good Start
With planting season now winding down, both the U.S. corn and soybean crops are off to good starts, according to early condition ratings from USDA.
The agency’s first rating of U.S. soybean conditions for the 2016 growing season came in at 72% good/excellent, up from 69% a year earlier. USDA rated nationwide corn crop conditions 75% good/excellent, up 3 percentage points from the initial 2016 rating of a week earlier and up 4 points from a year earlier. Corn crop emergence, at 90% was 4 percentage points ahead of the five-year average while soybean emergence, at 65% was 8 points ahead of average.
Soybean crop conditions were rated better than a year earlier in 14 of the top 18 soybean producing states, with the lowest good/excellent rating of 55% in Arkansas and the best ratings at in Wisconsin and North Dakota at 82% and 81% good/excellent respectively. The crop was rated 80% good/excellent in the top producing state of Iowa and 73% good/excellent in No. 2 Illinois.
Corn condition ratings were also better than a year earlier in 14 of the top producing states, with the lowest rating being 64% good/excellent in Pennsylvania and the best ratings of 86% good/excellent once again in North Dakota and Wisconsin. Corn conditions were rated 80% good/excellent in the top producing state of Iowa and 76% good/excellent in No. 2 Illinois.