Soy Crop Condition Holds Up

The condition of the U.S. soybean crop held steady this past week, bucking the deterioration that impacted the corn crop.

An estimated 55% of the nationwide soybean crop was in good to excellent as of Sunday, according to Monday’s USDA crop progress report. That’s unchanged from a week earlier and in line with pre-report trade expectations. On the other hand, the condition of the corn crop dipped 3 points on the week, defying trade expectations for a steady rating.

In Illinois, where the condition of the corn crop fell 8 points on the week, the soybean crop reversed 5 points to 41% good to excellent. The condition of the Illinois soy crop has now declined 9 points over the past two weeks alone. The Indiana crop fell 1 point to 32% good to excellent, while the Iowa crop was up a single point at 61%. Michigan was down 3 points at 42% good to excellent and Ohio lost 1 point to 34%.

Across the country, an estimated 92% of the soybean crop was setting pods as of Sunday, up from 86% a week earlier but behind 100% last year and 99% on average. In Michigan and Ohio, where crop development is particularly lagging, just 89% of the state crops were podding as of Sunday, up from 78% and 82%, respectively, a week earlier but behind 98% and 100% on average.

Source: DePutter Publishing Ltd.

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