Corn+Soybean Digest [1]

Corn Ratings Fall, Soy Crop Steady

U.S. corn [2] conditions deteriorated last week under pressure from hot conditions across the U.S. growing belt, while soybean [3] conditions held stable.

USDA [4] rated the U.S. corn crop 69% good/excellent as of Sunday, down from 71% a week earlier, but still above the 68% reported a year earlier.

Soybean crop conditions were rated 66% good/excellent, unchanged from the previous week and from a year ago.

Crops continued to develop ahead of normal with USDA reporting 74% of the U.S. corn crop in the dough stage against just 38% a year earlier and a five-year average of 58%. Some 32% of the corn crop was said to be denting against only 9% a year earlier and the average of 22%.

USDA reported that 84% of U.S. soybeans were setting pods as of Sunday against only 69% a year earlier and the five-year average of 81%.

The good/excellent rating for the corn crop in the top-producing state of Iowa fell two percentage points to 68% good/excellent, while the rating for No. 2 Illinois fell 1 point to 63%.

The good/excellent rating for Iowa soybeans dropped 4 percentage points to 69%, but the Illinois rating rose one point to 64%.

Editor’s note: Richard Brock, Corn & Soybean Digest's marketing editor, is president of Brock Associates, a farm market advisory firm, and publisher of The Brock Report.