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U.S. Corn Slips to 73% Good to Excellent in USDA Crop Condition Report

U.S. Corn Slips to 73% Good to Excellent in USDA Crop Condition Report

Soybeans stay at 71% good/excellent; Spring Wheat at 70% in latest USDA crop progress and condition report

U.S. corn's condition slipped slightly to 73% good to excellent, as expected, from 75% a week earlier, but crop development was ahead of average with 36% in the dough stage of kernel development, versus the 29% average, USDA's weekly crop condition report said on Monday.

In Iowa, the top corn and soybean producer, there was nearly a full week suitable for fieldwork, the most so far this growing season. The dry days caused a slippage in soil moisture although more than 70% of the state still had adequate to surplus supplies. The state's corn slipped to 77% good to excellent from 78% while soybeans stayed at 74%.

U.S. Corn Slips To 73% Good To Excellent in USDA Crop Condition Report

Chicago corn and soybean futures closed higher on Monday after dropping to contract lows earlier. The futures are down sharply this summer as the markets have priced in big corn and soybean crops.

For soybeans, 85% were blooming and 57% were setting pods, which were ahead of averages. Soybeans in both Iowa and Illinois were at 91% blooming and 65% setting pods, which were ahead of averages.

Winter wheat harvest at 90%
Winter wheat harvest advanced to 90% from the previous week's 83% and was ahead of the 85% average in the crop condition report.  Harvest was done in Kansas, the largest wheat state, while Nebraska wheat was 93% cut against the 95% average.

The soft red winter harvest was done in Arkansas, Illinois, Indiana and Ohio.

Spring wheat was 97% headed, which matched the average. North Dakota, the top producer, was 96% to trail the 98% average. The overall crop was unchanged at 70% good to excellent.

The North Dakota's crop, which drew compliments from a crop tour in July, improved to 84% good to excellent.

Cotton bolls set at 68%, crop 53% good to excellent
Bolls were set on 68% of the cotton and 95% had squared versus the 66% and 95% averages. The crop was 53% good to excellent, down 1 point from a week ago.

Oats were 56% harvested, compared with the 49% average, and slipped to 63% good to excellent from last week's 64%. Sorghum coloring was at 35% and heading at 55% versus the 30% and 54% averages. It was 59% good to excellent.

 Rice was 60% headed, versus the 58% average and was unchanged at 71% good to excellent, USDA's report said.

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