Market News & Headlines >> U.S. Corn, Soy Ratings Slip; Still Strong
U.S. corn and soybean conditions slipped slightly last week as hot conditions took a toll on crops in the U.S. Plains and the southwest portion of the Midwest region.
However, conditions in the top five producing states for each crop remained well above average for this time of year. USDA rated U.S. corn conditions 77% good/excellent, down 1 percentage point from a week earlier, but still 10 percentage points above a year earlier, with 94% of the crop emerged, compared with 93% last year and the five-year average of 92%. U.S. soybean conditions were rated 74% good/excellent, also down 1 percentage point from a week earlier, but still 8 points above a year earlier. Soybean planting was estimated at 93% complete, ahead of the five-year average of 85%, with 83% of the crop emerged, well ahead of the average of 69%.
Corn conditions remained very strong in the top growing states, with the Iowa crop rated 81% good/excellent, steady with a week earlier, while the Illinois crop was rated 82% good/excellent, up 1 point on the week. The good/excellent rating for the Minnesota crop was up 2 points to 90%; while the good/excellent rating for the Nebraska crop slipped 1 point to 86% and the good/excellent rating for the Indiana crop dipped 2 points to 75%.
Soybean crop conditions edged lower in a number of states, including Iowa and Minnesota, but overall, ratings in the top growing states remained strong. The Iowa crop was rated 78% good/excellent, down from 80% a week earlier, with the Minnesota crop rated 86% good/excellent, down from 88% previously. Meanwhile, the good/excellent rating for the Illinois crop rose 5 points to 83% and the good/excellent rating for the Nebraska crop rose 1 point to 87%.
The most notable declines in both corn and soybean conditions came in Missouri and South Dakota. The good/excellent rating for the Missouri corn crop slid 11 percentage points to 56%, while South Dakota corn conditions were rated 63% good/excellent, down 7 points on the week. The good/excellent ratings for the Missouri and South Dakota soybean crops fell by 6 points and 7 points respectively to 54% and 60%.