Crop Progress: Corn, Soybean Conditions Decline, Still at Historical Highs – DTN

More than three-quarters of the nation’s corn crop has silked and nearly 20% has moved into the dough stage, according to USDA’s latest weekly Crop Progress report.

As of July 27, 78% of the nation’s corn had silked, compared to 67% last week and a five-year average of 75%. Seventeen percent had reached the dough stage, compared to 8% last year and a 16% five-year average.

Corn condition worsened slightly with one percentage point moving from the good rating and into the poor category. “USDA’s good-to-excellent rating of 75% for corn reduced the DTN Corn Condition Index from 187 to 184,” said DTN Analyst Todd Hultman, “but is still up from 155 a year ago and above the five-year average of 130.6. This report should be viewed as neutral for corn as Monday’s slightly lower crop rating is still high for this time of year.”

Seventy-six percent of U.S. soybeans had bloomed and 38% were setting pods, compared to 62% and 18% last year and 72% and 31% five-year averages.

Soybean condition worsened with 71% rated good to excellent, compared to 73% last week. “USDA’s good-to-excellent rating of 71% resulted in a reduction in the DTN Soybean Condition Index from 178 to 174, but is still up from 157 a year ago and above the five-year average of 136.4,” Hultman said. “Monday’s report should be viewed as neutral to bullish due the modest slip in USDA’s crop rating as more beans are starting to set pods.”

Eighty-three percent of the nation’s winter wheat is harvested, compared to 80% last year and a five-year average of 80%. “Harvest progress remains the most behind its five-year average pace in South Dakota where only 27% is harvested,” Hultman said.

Ninety-three percent of the spring wheat is headed, compared to 93% last year and a five-year average of 93%. Spring wheat condition stayed steady with 70% of the crop rated good to excellent. “This resulted in a DTN Spring Wheat Index of 173, up from 172 a week ago and 170 a year ago, but still down from the five-year average of 173.4,” Hultman said.

“Monday’s report should be viewed as neutral to bearish for wheat as winter wheat progress remains ahead of pace and there was a slight increase in the spring wheat crop rating,” Hultman concluded.

Eighty-seven percent of cotton was squaring and 49% was setting bolls, compared to 87% and 37% last year and five-year averages of 89% and 51%. Rice headed was 42%, compared to 34% last year and a 44% five-year average. Cotton condition improved in the last week, with 54% rated good to excellent, compared to 52% last week. Rice condition did not change with 71% of the crop rated good to excellent.