August 18, 2023

 

US crop quality ratings show uplift in corn, soybean

 

In the latest crop progress report by the US Department of Agriculture (USDA), there is improvement in corn and soybean quality ratings across the country after another week of relatively mild and wet weather conditions, Farm Progress reported.

 

Analysts' predictions of enhanced crop quality were met with the USDA's latest update, revealing a two-point surge in corn ratings and a notable five-point climb in soybean ratings. Spring wheat quality ratings also experienced a one-point enhancement during the past week.

 

US corn quality witnessed a positive shift of two points, surpassing the average trade expectations of a one-point improvement. As of the reporting period that concluded on Sunday, 59% of the corn crop now registers as in good-to-excellent condition. An additional 28% of the crop is deemed fair (a decrease of one point from the previous week), while the remaining 13% received a rating of poor or very poor (also down by one point from last week).

 

From a developmental perspective, 96% of the corn crop is currently silking, mirroring the average of the past five years. Moreover, 65% of the crop has reached the dough stage, with 18% entering the dented stage.

 

US soybean quality exhibited a more substantial improvement than anticipated, with ratings climbing by five points. Presently, 59% of the soybean crop is ranked as being in good-to-excellent condition. Another 29% of the crop received a fair rating (a three-point decrease from the previous week), while the remaining 12% obtained a poor or very poor rating (a reduction of two points from last week).

 

In terms of development, 94% of the soybean crop is now in the blooming stage, marking an increase from the 90% reported in the preceding week. This progress slightly surpasses the five-year average of 92%. Furthermore, 78% of the crop is actively setting pods, which is a considerable rise from the 66% reported a week prior, and it also surpasses the prior five-year average of 75%.

 

US spring wheat quality has also demonstrated an upward trend, with ratings advancing by one point last week. Currently, 42% of the spring wheat crop is rated as being in good-to-excellent condition. Another 38% of the crop received a fair rating (a decrease of one point from the previous week), while the remaining 20% maintained a rating of poor or very poor (unchanged from last week).

 

Harvest progress for spring wheat moved from 11% completion the previous week to 24% as of the recent Sunday. Although this pace outpaces last year's rate of 15%, it falls behind the prior five-year average of 28%.

 

As for the 2022/23 winter wheat harvest, it is nearing completion, with progress reaching 92% by August 13. This rate stands slightly above last year's figure of 89% and aligns with the average of the prior five years.

 

-      Farm Progress