U.S. crop conditions are a bit of a mixed bag early in the season, although, as noted on the page 1 sidebar, the weather outlook for the next couple of weeks should help to improve prospects.
As of Sunday, the USDA rated 68% of the U.S. corn crop in good to excellent condition, below trade expectations and last year’s 75%. Key corn-producing states showed varied ratings, with Iowa leading at 83%. Corn planting is 87% complete, slightly ahead of the five-year average, with emergence at 67%. A key “trouble spot” is Ohio, which lagged behind at just 54% planted.
Soybean planting was 76% done, ahead of the five-year pace, with 50% of the crop emerged. Spring wheat planting is progressing well at 87% complete, but initial condition ratings were not good—only 45% of the crop is rated good/excellent overall. Minnesota leads in wheat condition at 82%, while Montana and North Dakota trail at 36% and 37%, respectively.
The U.S. weekly Ag in Drought report showed that 23% of U.S. corn area was experiencing drought as of Tuesday, up from 22% last week and just 4% a year ago. The main drought areas are in Nebraska and across northern Illinois. For soybeans, 17% of production is in drought areas, compared to just 2% a year ago. Winter wheat was 16% in drought, down from 21% the prior week and 20% a year ago.
