Amid ongoing dry Midwest weather, crop condition ratings for US corn and soybeans both failed to meet expectations on Monday.
The weekly crop progress report pegged the nationwide corn crop at 64% good to excellent as of Sunday, down 5 points from a week earlier and 3 points below the average pre-report trade guess. Meanwhile, in its first condition rating of the year, the USDA put the national soybean crop at 62% good to excellent, also 3 points below the average trade guess.
According to US drought maps, just over one-third (34%) of US corn production, along with 28% of soybean production, was impacted by drought as of last Tuesday - up from 26% and 20%, respectively, the previous week.
For corn, the latest condition rating now sits 9 points below a year earlier. The USDA did not release its first soybean crop condition rating last year until June 13, but at that time the crop was rated 8 points higher than this year’s initial rating at 70% good to excellent.
The crop in the largest soybean production state of Illinois was rated just 51% good to excellent as of Sunday, well down from last year’s mid-June rating of 76%. At 70% good to excellent, the Iowa crop was down 12 points from last year and the Indiana crop was down 11 points at 62%.
The Michigan soybean crop was rated 40% good to excellent, versus last year’s mid-June rating of 78%, while Ohio was up 6 points at 65%. The condition of the North Dakota soybean crop was also higher versus a year earlier, up to 69% good to excellent from 58%.
Across the country, 91% of the soybean crop had been planted as of Sunday, up from 83% a week earlier and well ahead of 76% for both last year and the five-year average. Almost three quarters (74%) of the crop had emerged as of Sunday, versus 56% for a week earlier and the average.
For corn, the condition of the crop in Illinois tumbled 19 points from just one week earlier to 50% good to excellent, while the Iowa crop dropped 5 points to 72% and Indiana was down 10 points at 62%.
The condition of the Michigan crop reversed a whopping 20 points on the week to fall to 46% good to excellent, while Ohio was down 17 points to 64%. On the other hand, the condition of the North Dakota crop improved 6 points to reach 78% good to excellent as of Sunday.
US corn planting reached 96% complete as of Sunday, up 4 points from a week earlier and 5 points ahead of average. An estimated 85% of the crop had emerged, up from 72% a week earlier and ahead of 77% on average.
