by Cheri Zagurski, DTN Managing Editor
and
Anthony Greder, DTN News Editor
OMAHA (DTN) — Corn condition ratings held steady at 51{6b02cb02835b82b7f756ddf6717aaab7139b350de274ea97f5b53eb230607107} poor to very poor in the week ended Aug. 19, according to the latest USDA Crop Progress report, while soybean condition improved slightly, moving from 38{6b02cb02835b82b7f756ddf6717aaab7139b350de274ea97f5b53eb230607107} poor to very poor last week to 37{6b02cb02835b82b7f756ddf6717aaab7139b350de274ea97f5b53eb230607107} this week.
Corn maturity is speeding along well ahead of average. Seventeen percent of the crop is rated mature, compared to a 4{6b02cb02835b82b7f756ddf6717aaab7139b350de274ea97f5b53eb230607107} average. Four percent of the crop is harvested, compared to 1{6b02cb02835b82b7f756ddf6717aaab7139b350de274ea97f5b53eb230607107} on average. Sixty percent of the nation’s corn is in the dent stage, compared to 29{6b02cb02835b82b7f756ddf6717aaab7139b350de274ea97f5b53eb230607107} average.
“The DTN Corn Condition Index was unchanged at -2 points,” said DTN Analyst John Sanow. “This is somewhat curious given 4{6b02cb02835b82b7f756ddf6717aaab7139b350de274ea97f5b53eb230607107} of the crop is harvested while the dough, dented and mature categories continue to run well above average and last year. Nevertheless, this report will garner little attention from traders.”
Four percent of soybeans are dropping leaves, compared to a 1{6b02cb02835b82b7f756ddf6717aaab7139b350de274ea97f5b53eb230607107} average, while 91{6b02cb02835b82b7f756ddf6717aaab7139b350de274ea97f5b53eb230607107} of the crop is setting pods or beyond, compared to 83{6b02cb02835b82b7f756ddf6717aaab7139b350de274ea97f5b53eb230607107} average.
“The DTN Soybean Condition Index improved, as expected, another 3 index points from last week to 45 points. However, as with corn, the market will pay little attention, instead turning its attention to the foregone conclusion that this year’s crop will fall well short of the amount needed to keep global stocks from reaching a critical level before the next South American harvest comes in.”
Wheat harvest continues to roll along, with 97{6b02cb02835b82b7f756ddf6717aaab7139b350de274ea97f5b53eb230607107} of the winter crop and 79{6b02cb02835b82b7f756ddf6717aaab7139b350de274ea97f5b53eb230607107} of the spring crop in the bin. Both of these are ahead of the five-year average.
Other small grain harvests are making progress, too, with oats 98{6b02cb02835b82b7f756ddf6717aaab7139b350de274ea97f5b53eb230607107} done and barley 66{6b02cb02835b82b7f756ddf6717aaab7139b350de274ea97f5b53eb230607107} complete.
The following are highlights from weekly crop progress reports issued Monday by National Ag Statistics Service offices in individual states. To view the full reports from each state, visit http://1.usa.gov/….
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Posted with DTN Permission by Haylie Shipp
