Crop Progress: Soybeans Looking Bullish, Spring Wheat Bearish

Corn is 27% silked, compared to 12% last week and a five-year average of 34%. Condition ratings fell to 9% poor to very poor, compared to 8% last week.

“Sixty-nine percent of the corn crop was rated good to excellent, resulting in a 1-point decrease in DTN’s Corn Condition Index to 164, which is still above the five-year average of 146,” said DTN Analyst Todd Hultman. “Monday’s report was neutral for corn.”

Soybeans are 38% blooming and 6% setting pods, compared to 21% bloomed last week and averages of 37% bloomed and 7% setting pods. Soybean conditions fell to 11% poor to very poor, compared to 9% last week.

“Sixty-two percent of soybeans were rated in good-to-excellent condition, resulting in a 5-point decline in the DTN Soybean Condition Index to 149, which is still above the five-year average of 144,” Hultman said. “Monday’s report should be viewed as bullish for soybeans.”

“Some fields look beautiful and others look pretty sad (wet),” wrote Keith Landis from northern Illinois. “Some corn is beginning to tassel, a few beans are beginning to bloom, the wheat is about ready with reports of vomitoxin in it and it continues to be too wet for much of anything including hay making.”

Winter wheat harvest is 65% complete compared to 67% last year and a 68% average. Spring wheat is 91% headed compared to 66% last year and a 66% average. Spring wheat conditions improved slightly.

“Monday’s report should be viewed as neutral for winter wheat with harvest progress close to normal,” Hultman said. “Seventy-one percent of the spring wheat crop was rated good to excellent, resulting in a 3-point increase in DTN’s Spring Wheat Condition Index to 173. The index is even with a year ago, but down slightly from the five-year average of 174. Monday’s report is neutral-to-bearish for spring wheat due to the higher crop rating.”

Cotton is 61% squaring and 18% setting bolls, compared to 68% and 22% last week and 70% and 24% on average. Cotton condition improved slightly. Rice is 30% headed compared to 23% last year and a 22% average. Rice condition also improved slightly.

Sorghum is 28% headed and 17% coloring, compared to 24% headed last week and 28% headed and 21% coloring last year. Oats are 10% harvested, compared to a 15% average. Barley is 95% headed compared to 80% last year and a 69% average. Sorghum and oat condition held steady, barley condition decreased slightly.