Corn and soybean conditions in the US are much better than last year

The condition of corn crops in the US deteriorated slightly last week, in line with market participants’ expectations. The share of corn crops in excellent and good condition decreased to 67% (68% a week earlier and 57% a year ago). It is reported by Zerno On-line agency with the reference to the data of the National Agricultural Statistics Service of the US Department of Agriculture (NASS).

The USDA forecasts the corn harvest in the US this year at 389.7 mln tonnes, which is 2% less than last year, but 5% higher than the five-year average.

The condition of soybean crops has improved slightly. Sixty-eight percent (67% and 54%) of the crops are now in good to excellent condition.

The USDA forecasts that the gross soybean harvest could rise to 120.7 million tons, up 6% from last year and 7% above the five-year average.

The percentage of spring wheat acreage in excellent and good condition remains at 74%, which is significantly higher than 41% a year ago. As of August 4, spring wheat was harvested from 6% of the planted areas (8% as of the same date last year, the average for the last five years is 10%).

Winter wheat was harvested from 88% (85% and 86%) of the area.

Tags: crop condition, soybean, USA