Strong corn condition rating to kick off season

Just 5% of the U.S. corn crop had yet to be planted as of Sunday, which is well ahead of 87% seeded at this point for the five-year average. Eighty-one percent of that corn had emerged, which is 11 points more advanced than the five-year average. That includes 86% of the Illinois crop (72% on average), 76% of Indiana’s (59%) 87% of Iowa’s (80%), 66% of Kansas’ (71%), 89% of Minnesota’s (76%), 84% of Nebraska’s (78%) and 82% of South Dakota’s crop (57%).

USDA’s initial crop condition rating for the season of 76% “good” to “excellent” was strong and toward the upper end of expectations. On average, those surveyed by Reuters expected a 70% G/E rating. This year’s initial rating is two percentage points above year-ago. Assessing damage from the weekend cold snap for northern locations will take time and may show up more in next week’s report.

Soybean planting slowed by rains, but progress still well ahead of the norm

Soybean planting advanced nine percentage points over the past week to 84% complete, which was a bit slower than the 12-point jump analysts surveyed by Reuters expected on average. But planting is still running well ahead of 67% complete for the five-year average. Sixty-two percent of the crop has emerged, meaning we’ll get USDA’s initial crop condition rating for beans next week. Emergence is running 20 percentage points ahead of the five-year average and roughly that same amount or more ahead of normal in most key producing states, with the exception of Missouri where 38% of the crop has emerged vs. the usual 35%.

More of the U.S. cotton crop rated in ‘poor’ to ‘very poor’ condition vs. year-ago

Cotton planting is running near in line with the seasonal norm, with 64% of the crop in the ground versus the five-year average of 65% planted as of late May. Texas has seeded 54% of its crop, which lags the average by two percentage points. As of Sunday, USDA reports 6% of the crop was squaring, which is also a point behind the five-year average.

USDA’s initial cotton crop rating of 43% “good” to “excellent” is a fairly typical rating to start the season, and just a point under last year at this time. But it should be pointed out that 19% of the crop is rated “poor” to “very poor” as of May 30, which is up sharply compared with 8% in the bottom two categories last year at this time.

Already-low spring wheat ratings slide

Spring wheat planting is basically complete, with 97% of the crop in the ground as of Sunday. That marks an early end to planting, as producers usually still have 7% of the crop left to seed as the calendar flips to June. Eighty percent of the crop had emerged as of Sunday, which is seven percentage points more advanced than the five-year average.

Condition ratings dived from last week’s already low levels. USDA now rates just 43% of the crop G/E, vs. 45% last week and 80% last year at this time. The amount of crop rated “poor” to “very poor” shot six points higher to 20%.

Winter wheat rating ticks up

Seventy-nine percent of the winter wheat crop was headed as of Sunday, which is near in line with 78% for the five-year average. The amount of crop USDA rates G/E climbed a point to 48%, with rains over the past week lifting ratings. But that’s still three percentage points shy of last year at this time.