US corn and soybean conditions decline slightly, but harvest outlook remains strong
The U.S. corn and soybean crops are worse than the previous week as early harvesting moves forward, according to the U.S. Department of Agriculture’s weekly report Monday.
Farmers are expected to reap a bumper harvest thanks to mostly favorable summer weather in the world’s largest corn-producing nation.
The U.S. Department of Agriculture (USDA) said 67% of the corn crop was in good or excellent condition as of Sunday, down from 68% a week earlier, analysts said. That’s still the highest for this time of year since 2018, USDA data show.
The agency said 7% of the corn crop had been harvested as of Sunday, up from 4% a week earlier.
The soybean crop was rated “good” or “excellent” at 63%, down from 64% a week ago. That’s still above the five-year average for this time of year. Soybean harvest is 5% complete.
The spring wheat harvest in the US has come to an end, with 94% of the crop harvested. Winter wheat is 11% planted, up from 5% last week.
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