US corn and soybean crop conditions deteriorate
Corn and soybean crop conditions in the United States deteriorated last week as hot and dry weather continued to affect key growing areas.
According to the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS), as of July 27, the share of the corn crop rated good to excellent declined to 63%, down from 67% a week earlier and 73% a year ago. The soybean crop rating also fell to 63%, compared with 66% the previous week and 70% a year earlier. Ratings for both crops came in below the average expectations of market analysts.
As of July 27, the U.S. winter wheat harvest had reached 81% of the planted area, ahead of both 79% at the same time last year and the five-year average of 79%. The USDA forecasts total winter and spring wheat production at 41.81 mln tons in 2026, the lowest level since 1970, compared with 54.01 mln tons harvested last year.
The expected decline in production is attributed to a reduction in planted area from 15.07 mln ha to 12.98 mln ha, as well as a drop in average yield from 3.58 t/ha to 3.22 t/ha.
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