Market News & Headlines >> U.S. Corn, Soy Condition Ratings Hold Steady
U.S. corn and soybean condition ratings held steady last week as mild temperatures and favorable subsoil moisture supported crop development across much of the main production belt.
USDA rated U.S. corn conditions at 72% good/excellent as of Sunday compared with 61% a year earlier and pegged U.S. soybean conditions at 70%, up from 60% a year earlier. The portion of the crop rated poor/very poor held steady at 9% for corn and 8% for soybeans.
Crop development continued to advance well ahead of normal. USDA estimated 91% of the corn crop silking versus the 5-year average of 82%, with 38% already in the dough stage, nearly double the average pace of 20%. Some 86% of the soybean crop was said to be blooming, versus the average pace of 77%, with 60% already setting pods vs. the average pace of 41%.
Corn condition ratings did erode in most of the top growing states, but remained favorable. The good/excellent rating fell 1 percentage point to 78% in Iowa, 1 point to 86% in Nebraska, 2 points to 80% in Illinois and 3 points to 69% in Indiana. However, the good/excellent rating rose 1 point to 79% in Minnesota and 4 points to 75% in South Dakota.
Missouri, Kansas and Michigan remained the main trouble spots for the corn crop based on condition ratings. The biggest weekly declines in ratings were in the Mid-South states of Kentucky and Tennessee, where good/excellent ratings fell 9 points and 10 points respectively. However, 74% of the crop was still rated good/excellent in both of those states.
Looking at the statewide soybean crop ratings, the good/excellent rating was up 1 point to 77% in Iowa and was steady in Nebraska at 85%, but fell by 3 points in Illinois to 75%; by 1 point in Minnesota to 75%, and by 1 point in Indiana to 67%. Missouri and Kansas remained the main trouble spots for soybean conditions. The portion of the Tennessee crop rated good/excellent fell by 10 points on the week, but was still 74%.