Soy Crop Sees Expected Small Decline in Condition Rating

As was expected, the condition of the U.S. soybean crop saw a small decline this past week.

An estimated 54% of the national soy crop was in good to excellent as of Sunday, according to Monday’s USDA crop progress report. That’s down a single point from a week earlier and in line with pre-report trade ideas. Last year at this time, 67% of the soy crop was rated good to excellent.

The Illinois crop was rated 42% good to excellent as of Sunday, up 1 point on the week and snapping two consecutive weeks of relatively sharp declines. The Iowa crop also improved, up 2 points to 63% good to excellent. On the other hand, the condition of the Indiana crop slipped a single point to 31%. The Michigan and Ohio crops were mixed, with Michigan down 1 point to 41% good to excellent and Ohio up 1 point at 35%.

Meanwhile, 15% of the national soy crop was reported dropping leaves as of Sunday, far behind 50% last year and 38% on average.

The Illinois crop was just 3% dropping leaves, 30 points behind average, and Indiana was at 5%, 39 points behind average. At 5% dropping leaves, the Iowa crop was 24 points back of average. The Michigan crop was 17% dropping leaves, up from 3% a week earlier but behind 34% on average. Ohio was 5% dropping leaves, compared to 46% last year and 38% on average.

Across the country, 95% of the soy crop was setting pods as of Sunday, up from 92% a week earlier and behind 100% on average.

Source: DePutter Publishing Ltd.

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