November 5, 2024 | 15:04 GMT +7

  • Click to copy
Wednesday- 09:55, 07/07/2021

USDA crop progress: Soybean quality tilts lower

(VAN) The latest USDA crop progress report was delayed a day due to the federal observance of Independence Day on Monday.
Corn quality holds steady for week ending July 4

Corn quality holds steady for week ending July 4

Was this week’s report worth the extra wait? Arguably not – there weren’t many significant surprises that will move the needle on grain prices very much in either direction. Corn quality held steady, with soybean quality facing a one-point dip. The biggest shocker was spring wheat conditions, which suffered another four-point drop from a week ago.

Corn quality remained largely steady, with 64% rated in good-to-excellent condition through Sunday, mirroring analyst expectations. However, 27% of the crop is rated fair (down a point from last week), with the remaining 9% rated poor or very poor (up a point from last week). State-by-state variability is still considerable, ranging from Ohio (85% rated G/E) down to South Dakota (24% rated G/E).

Physiologically, 10% of the crop has reached the silking stage, up from 4% a week ago and slightly ahead of 2020’s pace of 9% but down from the prior five-year average of 14%.

Soybean quality dropped a point, with 59% of the crop now rated in good-to-excellent condition. Analysts were expecting USDA to leave ratings unchanged, in contrast. Another 30% of the crop is rated fair (down a point from last week), with the remaining 11% rated poor or very poor (up two points from last week).

Physiologically, 29% of the crop is blooming, up from the prior weeks’ mark of 14% and moving along moderately faster than the prior five-year average of 24%. And 3% is setting pods, which is identical to the prior five-year average.

Winter wheat also dropped a point lower, with 47% rated in good-to-excellent condition. Analysts were expecting USDA to leave quality ratings unchanged. Another 30% is rated fair (down a point from a week ago), with the remaining 23% rated poor or very poor (up two points from last week).

Harvest continues to see some forward momentum, moving from 33% completion a week ago up to 45% through Sunday. That’s a more sluggish pace than 54% in 2020 and the prior five-year average of 53%. Three of the top 18 production states – Michigan, Montana and Washington – haven’t made any measurable harvest progress yet, according to USDA.

Analysts expected to see another one-point drop for spring wheat ratings, but USDA trimmed ratings four points lower, with just 16% of the crop now rated in good-to-excellent condition. Another 34% is rated fair (down seven points from last week), with the remaining 40% rated poor or very poor (up 11 points from last week).

Physiologically, 69% of the crop is headed, up from 48% a week ago and faster than both 2020’s pace of 59% and the prior five-year average of 62%.

Tr.D

(USDA)

Meeting the new demands of the EUDR

Meeting the new demands of the EUDR

(VAN) Sophisticated automation enables users to send hundreds of data collection requests with a single click.

Small farmers in Europe struggle to get by

Small farmers in Europe struggle to get by

(VAN) Brutal economic situation has inflicted misery on farmers who struggle to turn a profit and forced some to look for alternative streams of revenue.

China intensifies emergency food supply amid increasing extreme weather events

China intensifies emergency food supply amid increasing extreme weather events

China has reinforced its emergency food supply in response to increasing extreme weather events and natural disasters, an official said.

Scientists dismayed as UK ministers clear way for gene editing of crops - but not animals

Scientists dismayed as UK ministers clear way for gene editing of crops - but not animals

(VAN) Advocates urge government to allow ‘precision breeding’ to combat disease, but RSPCA warns of ethical dangers.

Expectations positive, but tempered on GM wheat in US

Expectations positive, but tempered on GM wheat in US

(VAN) HB4 wheat’s USDA approval will enable Bioceres to 'move forward with nonregulated field activities for product development and commercialization,' CEO Federico Trucco said in September.

Famine and catastrophic hunger in 5 major hotspots alongside the looming La Niña_climate threat in others

Famine and catastrophic hunger in 5 major hotspots alongside the looming La Niña_climate threat in others

(VAN) Acute food insecurity is set to increase in magnitude and severity in 22 countries and territories.

Pharma and agritech groups push against biodiversity levy at UN summit

Pharma and agritech groups push against biodiversity levy at UN summit

(VAN) One contentious proposal seeks to impose 1% levy on returns from products made using genetic data.

Read more