USDA-70% of Corn, 66% of Soybeans Rated Good to Excellent

The USDA’s national good to excellent ratings for corn and soybeans declined slightly last week.

Some key U.S. growing areas are currently in drought or near drought conditions, while others have been too wet at times, but overall, most corn and beans are in very good shape for this time of year and the USDA is projecting record production.

As of Sunday, 70% of U.S. corn is in good to excellent shape, down 1% on the week, with 73% of the crop at the dough making stage and 26% dented, both considerably faster than average.

66% of U.S. soybeans are called good to excellent, also 1% lower than a week ago, with 96% of beans blooming and 84% at the pod setting stage, ahead of their respective normal paces.

75% of U.S. spring wheat is rated good to excellent, up 1% from last week, with 35% of the crop harvested, compared to the five-year average of 27%.

94% of winter wheat is harvested, just behind the typical mark for this time of year.

40% of U.S. pastures and rangelands are in good to excellent condition, unchanged on the week and down 7% on the year.

The USDA’s next set of crop production estimates is out in September.

Source: AgriMarketing

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