US corn and soybean crop condition ratings improved this past week, amid ample soil moisture across much of the American Midwest.
Monday’s USDA crop progress report pegged the national corn crop at 71% good to excellent as of Sunday, up 2 points on the week and topping the average pre-report trade guess of 70%. Meanwhile, the condition of the soybean crop was up 1 point on the week to 68% good to excellent, meeting pre-report trade expectations.
However, both the national corn and soybean condition ratings remain below 74% and 72% good to excellent, respectively, last year.
Rain fell over a large part of the Midwest over the weekend, with portions of the northwest Corn Belt seeing a beneficial increase in soil moisture. However, some areas of dryness persist, including parts of Iowa and northern Illinois and northern Indiana.
The condition of the corn crop in the No. 1 production state of Iowa was up a single point on the week to 85% good to excellent. The Illinois corn crop improved 5 points from the previous week to 68% good to excellent, while the Indiana crop was down 1 point at 69%.
After a 7-point fall the previous week, the condition of the Michigan corn crop slipped another 3 points to 50% good to excellent, but the Ohio crop improved substantially, up 12 points on the week to 58%. At 61% good to excellent as of Sunday, the condition of the North Dakota corn crop improved 10 points from a week earlier.
As for soybeans, the Illinois crop was unchanged from a week earlier at 59% good to excellent, while Indiana was down 2 points at 67% and Iowa down 1 point at 80%. The Michigan soybean crop improved 3 points from a week earlier to 57% good to excellent as of Sunday, while Ohio also added 3 points to 53%. The North Dakota soybean crop gained 8 points from a week earlier to 66% good to excellent as of Sunday.
US corn planting has essentially now wrapped up, with 97% of the nationwide crop in the ground as of Sunday, up 4 points from a week earlier. That is ahead of 94% last year but on par with the five-year average. An estimated 87% of the American corn crop had emerged as of Sunday, versus 78% a week earlier, 83% last year and 87% on average.
National soybean planting advanced 6 points from a week earlier to 90% complete as of Sunday, ahead of 86% last year and 88% on average. The soy crop was 75% emerged, up 12 points on the week and topping last year and the average at 68% and 72%.
