Market News

U.S. corn, soybean ratings hold at multi-year highs

USDA’s national condition ratings for corn and soybeans continue to hold at multi-year highs, even after some flooding and heavy rainfall over the past week.

As of Sunday, 75% of corn is rated good to excellent, unchanged from last week, with 1% from good to excellent, and the best rating for this time of year since 1999. 15% of corn is silking, compared to 6% a year ago and the five year average of 18%.

72% of soybeans are in good to excellent condition, also unchanged and with 1% moving from good to excellent, and the highest rating for early July since 1994. 98% of soybeans have emerged, compared to 97% on average, while 24% are blooming, compared to 21% on average.

57% of the winter wheat crop is harvested, compared to 60% on average, and 31% is rated good to excellent, a 1% improvement. 47% of spring wheat has headed, compared to 41% a year ago and 47% on average, with the condition rating holding steady at 70% good to excellent.

56% of U.S. pastures and rangelands are in good to excellent shape, down 2%.