USDA crop progress: Corn quality faces interesting shift

 Soybeans saw a similar scenario – while the percent of the crop rated in good-to-excellent condition held steady, the amount of corn rated “excellent” tracked a point higher this past week.

Corn quality saw 64% of the crop rated in good-to-excellent condition through Sunday, sliding a point lower from a week ago. However, last week’s good-to-excellent split was 54/11, while the current data suggests a 51/13 split. Even so, analysts were expecting to see a one-point improvement this past week. Another 28% of the crop is rated fair (down a point from last week), with the remaining 8% rated poor or very poor (up two points from last week).

Physiologically, 4% of the crop has reached silking stage, predictably starting in southern states like Tennessee (67%) and North Carolina (52%). The prior nationwide average among the top 18 production states is 6%.

Soybean quality also moved unevenly this past week. While the overall percentage of the crop rated in good-to-excellent condition held steady, at 60%, the ratio moved from 51/9 to 50/10. Like corn ratings, analysts were expecting to see a one-point gain. Another 31% of the crop is rated fair, with the remaining 9% rated poor or very poor – all unchanged from a week ago.

Physiologically, 96% of the crop is now emerged, versus the prior five-year average of 92%. And 14% of the crop is already blooming, up from 5% a week ago and faster than the prior five-year average of 11%.

Winter wheat quality ratings retreated a point lower, with 48% of the crop rated in good-to-excellent condition through Sunday. Another 31% of the crop is rated fair (unchanged from last week), with the remaining 21% rated poor or very poor (up a point from a week ago).

Harvest is moving a bit faster than analysts anticipated, reaching 33% completion versus the average trade guess of 30%. This year’s pace is still behind 2020’s mark of 39% and the prior five-year average of 40%, however.

Spring wheat ratings fell even more than anticipated, losing another seven points with just 20% now rated in good-to-excellent condition. Analysts were expecting to see a two-point drop this past week. Another 41% is rated fair (up five points from last week), with the remaining 39% rated poor or very poor (up two points from a week ago).

Nearly half (48%) of this year’s spring wheat crop is now headed, up from 27% a week ago and coming in much faster than 2020’s pace of 33% and the prior five-year average of 39%.

Click here to read the latest USDA crop progress report for additional information on cotton, rice, peanuts, sorghum, sunflowers and more.