USDA Weekly Crop Progress - Report Bullish for Spring Wheat as Conditions Continue to Drop

OMAHA (DTN) -- Spring wheat conditions continued to drop significantly last week, according to USDA's weekly Crop Progress report released Monday. Conditions for corn, soybeans and winter wheat, on the other hand, held mostly steady from the previous week.

USDA estimated that 41% of spring wheat was rated in good-to-excellent condition this week, down 4 percentage points from the previous week's 45%. That resulted in a DTN Spring Wheat Condition Index of 84, down 21 points from the previous week. The DTN index is down from 179 a year ago and is still the lowest since 1988. The report is bullish for spring wheat, said DTN Analyst Todd Hultman.

The condition of U.S. corn, on the other hand, held mostly steady from the previous week. Sixty-seven percent of the corn crop was rated in good-to-excellent condition, the same as the previous week. That resulted in a DTN Corn Condition Index of 161, up 2 points from last week. The index is down from 181 a year ago and is still the lowest in four years. "Monday's report is neutral for corn," Hultman said.

USDA said 96% of U.S. soybeans were planted as of Sunday, June 18, up from 95% a year ago and above the five-year average of 93%. USDA said 89% of U.S. soybeans were emerged, up from 88% a year ago and above the five-year average of 84%. Sixty-seven percent of the soybean crop was rated in good-to-excellent condition, up 1 percentage point from the previous week. That resulted in a DTN Soybean Condition Index of 161, which is down 1 point from the previous week. The index is down from 174 a year ago and is below the four-year average of 170. "Monday's report is neutral for soybeans," Hultman said.

USDA also reported that 97% of winter wheat was headed, down from 99% a year ago, but up from the five-year average of 95% headed. Twenty-eight percent of winter wheat had been harvested as of Sunday, up from 23% a year ago and above the five-year average of 25%. Forty-nine percent of the winter wheat crop was rated in good-to-excellent condition, resulting in a DTN Winter Wheat Condition Index of 120, down 1 point from the previous week.

DTN's index is down from 153 a year ago, but above the four-year average of 76. "Monday's new crop rating is neutral for winter wheat," Hultman said.

In other crop reports, cotton was 94% planted, slightly behind the five-year average of 96%. Cotton squaring was 22% compared to the average of 20%. Rice was 98% emerged, compared to 100% on average, and was 5% headed, compared to the five-year average of 6%.

Sorghum was 86% planted, slightly ahead of the five-year average of 85%. Sorghum headed was 17%, slightly behind the average pace of 18%. Barley was 97% emerged, compared to 96% on average, and was 10% headed, compared to 19% on average. Oats were 60% headed, even with the average pace.

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