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Tuesday, July 25, 2017
Soybean, corn and spring wheat condition ratings all worsened in the last week
OMAHA (DTN) -- Soybean, corn and spring wheat condition ratings all worsened in the last week, according to USDA's weekly Crop Progress report released Monday.Soybeans were rated 14% poor to very poor in the week ended July 23, compared to 11% last week. Fifty-seven percent of the crop was rated good to excellent, compared to 61% last week."Fifty-seven percent of the soybean crop was rated good-to-excellent, resulting in a DTN Soybean Condition Index of 135, which is down 11 points from last week," Said DTN Analyst Todd Hultman. "The index is down from 170 a year ago and is also lower than the past four years. Monday's report is bullish for soybeans."Sixty-nine percent of soybeans are blooming, while 29% are setting pods. That compares to 52% and 16% last week, 74% and 33% last year and averages of 67% and 27%.Corn conditions were rated 12% poor to very poor, compared to 11% last week. "Sixty-two percent of the corn crop was rated good-to-excellent, resulting in a DTN Corn Condition Index of 147, down 5 points from last week," said Hultman. "DTN's index is down from 184 a year ago and is still lower than the past four years. Monday's report is bullish for corn."Sixty seven percent of the corn is silking and 8% is in the dough stage, compared to 40% and NA last week, 76% and 12% last year and averages of 69% and 13%.Spring wheat was rated 40% poor to very poor, compared to 41% last week. "Thirty-three percent of spring wheat was rated good-to-excellent, resulting in a DTN Spring Wheat Condition Index of 37 which is the same as a week ago," Hultman said. "DTN's index is down from 160 a year ago and is still the lowest since 1988. Monday's report remains bullish for spring wheat."Winter wheat is 84% harvested, compared to 75% last week, 82% last year, and an 80% average. Hultman said this was neutral for the market.Sorghum is 38% headed and 21% coloring, compared to 31% and 20% last week, 48% and 22% last year, and averages of 42% and 25%. Sorghum condition worsened to 59% good to excellent, compared to 63% last week.Barley is 97% headed, compared to 89% last week, 97% last year and a 97% average. Barley condition worsened, with more of the crop moving into the fair rating and out of the good to excellent category.Oats are 24% harvested, compared to 14% last week, 35% last year and a 31% average.