Drastic weather improvements over the past week stabilized crop conditions as warm and dry weather have allowed fields an opportunity to dry for the first time in almost two months. Crop maturity for corn is only slightly behind the five-year average, soybeans are even with the five-year average, and spring wheat maturity remains well ahead of its five-year average.
The USDA estimated corn crop conditions in the U.S. as of July 19th, at 69% as “Excellent” or “Good,” unchanged from last week, but a 7% decrease from last year. 22% of the crop was reported as “Fair,” unchanged from last week, but a 3% increase from last year. 9% was rated as “Poor” or “Very Poor”, unchanged from last week.
Corn silking was reported at 55% silked, a 28% increase from last year, but 1% behind the five-year average. Of the five largest corn producing states, Illinois reported the most silked at 75%, followed by Nebraska at 63% and Iowa at 56%. The weather has been much warmer over the past week really boosting the progress of the corn.
Soybean blooming was reported at 56%, an 18% increase from last week and even with the five-year average. Of the five largest soybean producing states, Minnesota reported the most at 75%, followed by Iowa at 42% and Nebraska at 40%.
The USDA estimated soybean setting pods at 17%, an 11% increase from last week and even with the five-year average. Of the five largest soybean growing states, Minnesota reported the most at 21%, followed by Indiana at 18% and Nebraska at 17%. The excessive rains this year has increased farmers concern over the potential for disease impacting soybean yields this year.
The USDA estimated soybean crop conditions at 62% “Excellent” or “Good,” unchanged from last week, but a 10% decrease from last year. 27% of the crop was rated as “Fair,” unchanged from last week, while 11% of the crop was rated as “Poor” or “Very Poor”, unchanged from last week.
Winter wheat harvested was reported at 75%, a 10% increase from last week and 1% ahead of the five-year average. After and atrocious start to the harvest farmers have now surpassed the five-year harvest average for the first time this year.
Spring wheat conditions were reported at 71% “Excellent” or “Good,” a 1% increase from last week and 1% ahead of the five-year average. 23% was rated “Fair,” a 1% decrease from last week, and only 6% was rated “Poor” or “Very Poor.” Spring wheat headed was reported at 96%, a 5% increase from last week and a 13% increase from the five-year average.
September futures for corn closed the week at $4.05 per bushel, an 8% decrease from last week. September soybeans ended the week at $9.98, a 3% decrease from last week, and September wheat ended the week at $5.32, a 7.5% decrease from last week. Year-to-year corn prices are up 11.3%, soybeans are down 8.5%, and wheat is up 0.4%.
The data for this report was taken from the July 20, 2015 USDA Crop Progress report for the week ending July 19, 2015. The information reported is based on a survey of approximately 4,000 agriculture professionals making subjective estimates of the progress of crops in their area. The data is compiled by the USDA National Agricultural Statistics Service.