Soybean Crop Condition holds Up Better than Expected

The condition of the US soybean crop held up a bit better than expected this past week.

According to Monday’s USDA crop progress report, 60% of the national soybean crop was in good to excellent condition as of Sunday, down 2 points on the week. That was a smaller decline than expected, with pre-trade guesses putting the crop at 58-59% good to excellent. However, the crop is still 10 points below a year earlier at this time.

The crop in the No. 1 production state of Illinois improved 3 points on the week to 66% good to excellent but Iowa was down 4 points to 57% and Indiana dropped 3 points to 70%. Battered by drought, the crop in North Dakota slipped another point to just 23% good to excellent, while 35% of the state crop was rated poor to very poor.

On the other hand, the Michigan crop improved 4 points to 57% good to excellent and Ohio gained a single point on the week to 72%.

Across the country, 97% of the soybean crop was planted as of Sunday, up 3 points on the week and 3 points ahead of the average. An estimated 91% of the crop was emerged, compared to 86% a week earlier, 88% last year and 85% on average.

The USDA estimated 5% of the nationwide soy crop blooming as of Sunday, on par with both last year and the average. The Illinois crop was reported at just 1% blooming as of Sunday, 3 points behind the state average but Iowa was 6 points ahead of the average at 7% blooming. The Ohio crop was 1% blooming, even with last year and the average. No crop was yet reported blooming in Michigan.

Source: DePutter Publishing Ltd.

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