Corn ratings lifted by moisture and milder temperatures

Corn ratings lifted by moisture and milder temperatures

Rains and mild temperatures over the past week helped lift corn condition ratings two percentage points to 64% “good” to “excellent” (G/E). Analysts polled by both Reuters and Bloomberg had expected USDA’s G/E rating to hold steady at 62%. Last year at this point, the department put 71% of the crop in the top two categories.

As of Sunday, USDA reports 95% of the crop was silking, 56% was in dough and 8% was dented. That compares to 94% silking, 51% in dough and 11% dented for the 2016 through 2020 average.

Soybean crop ratings steady to lower

Milder temps and needed rains had less of an impact on the soybean crop, though late weekend rains could show up more so in next week’s update. USDA continues to rate 60% of the crop G/E, which was in line with expectations. But the amount of soybeans rated “poor” to “very poor” climbed a percentage point to 13%.

Today’s update shows 91% of the crop was still blooming as of Aug. 8, two points more than the five-year average. Seventy-two percent of the crop is setting pods, which compares to 73% last year at this time and 68% for the five-year average.

Spring wheat ratings edge higher amid quick harvest

USDA rated 11% of the spring wheat G/E as of Sunday, a one-point improvement from the week prior whereas analysts had expected a steady rating. A late-season rise in ratings is not unusual, even in years when ratings are historically low, and can reflect the removal of abandoned acres from the calculation. The amount of spring wheat rated P/VP also dipped three percentage points to 61%.

A small crop and high abandonment have allowed harvest to advance quickly. USDA reports 38% of it had been harvested as of Sunday, a 21-point surge from last week and five points more advanced than analysts polled by Reuters expected on average. The five-year average puts harvest progress at 21%.

Just 5% of the winter wheat crop left to be harvested

Winter wheat harvest advanced four percentage points over the past week to 95% finished. Analysts surveyed by Reuters had expected the department to report 96% of the crop had been harvested. The five-year average harvest progress for this point in the season is 91% complete. This marks USDA’s final update on winter wheat progress for the season.

Big jump in cotton ratings after one-week dip

Cotton condition ratings shot higher over the past week, with USDA rating 65% of the crop G/E, a five-point increase from last week. Cotton ratings improved steadily during July but set back to start August. Also, the amount of cotton rated P/VP slipped a percentage point to 7%. In top-producing Texas, 63% of the crop is rated G/E, with just 7% of the state’s crop rated P/VP.

Cotton development continues to lag, though overall concerns about that are fairly limited. USDA reports 88% of the crop is squaring (96% for the five-year average), 63% is setting bolls (68% on average) and 5% of the crop has bolls open (11% on average).