USDA Weekly Crop Progress - Report Neutral for Corn, Soybeans as Conditions Remain Mostly Stable

OMAHA (DTN) -- Crop conditions were mostly stable last week with corn condition unchanged from the previous week and soybean condition up just 1 percentage point in the good-to-excellent category, according to USDA's weekly Crop Progress report released Monday.

USDA estimated that 62% of corn was in good-to-excellent condition as of Sunday, Aug. 20, the same as the previous week. That resulted in a DTN Corn Condition Index of 149, up 1 point from the previous week, said DTN Analyst Todd Hultman. DTN's index is still down from 180 a year ago and is close to corn's rating of 148 in 2013. Slight improvement was shown in the Dakotas from a week ago.

Corn progress continued to run slightly behind normal. Seventy-six percent of corn had reached the dough stage, down from 83% a year ago, and down slightly from the five-year average of 77%. Twenty-nine percent of corn was dented, down from 37% a year ago and down from the five-year average of 35% dented.

"Monday's USDA Crop Progress report is neutral for corn," Hultman said.

Soybean progress continued slightly ahead of normal with USDA estimating 97% of soybeans in the blooming stage as of Sunday, down from 98% a year ago and even with the five-year average of 97%. Eighty-seven percent of soybeans were setting pods, which was down from 88% a year ago, but above the five-year average of 85%.

Sixty percent of the soybean crop was rated in good-to-excellent condition as of Sunday, up 1 percentage point from 59% the previous week. That resulted in a DTN Soybean Condition Index of 143, which is up 1 point from the previous week. The index is down from 174 a year ago and is still lower than the past four years.

"Monday's report is neutral for soybeans," Hultman said.

USDA also reported that 58% of spring wheat was harvested as of Sunday, down from 63% a year ago, but above the five-year average of 51% harvested. Thirty-four percent of spring wheat was rated in good-to-excellent condition up 1 percentage point from 33% the previous week. That resulted in a DTN Spring Wheat Condition Index of 34, which is up 3 points from the previous week. DTN's index is down from 155 a year ago and is still the lowest since 1988.

"Monday's harvest progress is neutral for spring wheat prices," Hultman said.

Sorghum was 40% coloring, behind the average of 45%, and mature was 26%, also behind the average of 28% mature. Sorghum harvested was 19%, slightly ahead of the average of 18%.

Sorghum condition improved to 66% good to excellent from 64% good to excellent the previous week.

Barley was 70% harvested as of Sunday, ahead of the average pace of 58%. Oats were 78% harvested, behind the average of 83%.

Cotton was 88% setting bolls and 12% bolls opening compared to an average pace of 88% setting bolls and 14% bolls opening. Cotton condition improved to 63% good to excellent from 61% good to excellent the previous week. Rice was 96% headed, ahead of the average of 92%, and 15% of rice was harvested as of Sunday, slightly ahead of the average of 14% harvested.

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