U.S. Corn Improves to 76% Good to Excellent

U.S. Corn Improves to 76% Good to Excellent

Soybeans slip to 73% good to excellent from 74%.

U.S. corn continues to develop well with USDA on Monday rating 76% of it good to excellent, up slightly from the previous week's 75%, and better than last year's 64%.

The crop was emerged on 97% of the acreage, up slightly from the 96% five-year average.

Chicago December corn futures have moved lower since early May as the crop was planted on time and faced no spring- time weather threats. The next concern will be pollination in early July, a time when the crop will be vulnerable to a summertime heat wave. Weather forecasts through next week show mostly normal temperatures for the Midwest.

U.S. Corn Improves to 76% Good to Excellent

Soybeans were 92% planted and 83% emerged, both ahead of the averages. The crop was rated 73% good to excellent. Farm Futures had forecast 92% planted and 74% good to excellent.

 November soybeans have had a less severe decline than corn, closing Monday at  $12.17, down 4.2% from a peak in late May near $12.70.

In Iowa, the leading corn and soybean state, corn was 99% emerged and soybeans were 95%, both  ahead of averages. Drier weather was reported over much of the state last week amid below-normal temperatures. Topsoil moisture was down slightly to 78% adequate and 6% surplus. 

Winter wheat harvest under way
Winter wheat harvest advanced to 16% from the previous week's 9%, but trailed the 20% average. Harvest was 2% done in Kansas, the largest wheat state, versus the 19% average. Texas was at 40% and Oklahoma at 47%, both behind the averages.

The soft red winter harvest has fallen behind in Illinois, 0% vs 16% average; Indiana 0% vs 9% average; and Arkansas, 16% vs 67%.

Winter wheat ratings were identical to the previous week at 5% excellent, 25% good, 26% fair, 22% poor and 22% very poor. The poor ratings were mostly in Kansas, Oklahoma and Texas where the crop was hurt by drought, an April freeze and harvest-time rain. Texas wheat was rated 63% poor to very poor, Oklahoma 76%, and Kansas 63%.

Soft red winter wheat was better with Illinois wheat at 59% good to excellent, Indiana at 71%, and Ohio at 69%. 

Spring wheat was 91% emerged, versus the 90% average. North Dakota, the top producer, advanced to 85% emerged with 83% good to excellent.

Cotton 95% planted, 14% squaring
Cotton was 95% planted versus the 96% average. Squaring reached 14% versus the 16% average.  The crop was rated 51% good to excellent, compared with 50% a week ago.

Oats were 96% emerged and 45% headed, compared with the 98% and 50% averages. Sorghum was 75% planted versus the 83% average, and 17% headed versus the 18% average. Rice was 99%  emerged versus the 96% average and was rated 69% good to excellent , mostly unchanged from the previous week.

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