Corn+Soybean Digest

Brock Online Notes

Corn, Soybean Ratings Drop

Monday afternoon's USDA crop update showed both corn and soybean conditions declined slightly more last week than was expected by the trade. The good/excellent ratings declined 4 points from a week earlier for both corn and soybeans.

The U.S. corn crop is now rated 65% good/excellent, while the soybean crop is rated 57% good/excellent. The poor/very poor rating for corn rose 2 points to 9%, while the poor/very poor category for soybeans rose 1 point to 11%.

Crop condition deteriorated most in western and northern parts of the Midwest. The poor/very poor rating for Minnesota corn rose 9 points to 18%. The Wisconsin corn crop is also now rated 18% poor/very poor, while 15% of the Iowa crop falls in that category.

Soybean conditions are now rated 18% poor/very poor in both Iowa and Minnesota. Only 41% of the Minnesota soybean crop is rated good/excellent, while 49% of the Iowa crop is put in that category.

A good part of the corn crop is now into the key reproduction stage. USDA reported that 31% of the U.S. corn crop was silking as of Sunday, up from the five-year average of 28%.

USDA reported that 41% of U.S. soybeans are blooming, while 9% the crop is etting pods, versus a five-year average of 8%.

Editors note: Richard Brock, Soybean Digest's Marketing Editor, is president of Brock Associates, a farm market advisory firm, and publisher of The Brock Report.

To see more market perspectives, visit Brock's Web site at www.brockreport.com.

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