Hot weather worsens US spring wheat and corn crop conditions

Last week, crop conditions for U.S. spring wheat and corn deteriorated due to excessively hot weather.

According to the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS), as of July 19, the share of spring wheat rated in good to excellent condition fell to 53%, down from 58% a week earlier and compared with 52% a year ago. The share of corn rated good to excellent also declined to 67%, from 68% the previous week and 74% a year earlier.

Soybean crop conditions improved slightly, contrary to market expectations. The share of soybean fields rated good to excellent increased to 66%, up from 65% a week earlier, while standing at 68% on the same date last year.

As of July 19, the winter wheat harvest had been completed on 74% of the planted area, ahead of 72% at the same time last year and the five-year average of 71%. According to the USDA, total U.S. winter and spring wheat production is forecast to decline to 41.81 mln tons this year, the lowest level since 1970, compared with 54.01 mln tons last year. The decline is driven by both a reduction in harvested area from 15.07 mln ha to 12.98 mln ha and a drop in the average yield from 3.58 t/ha to 3.22 t/ha.