USDA Crop Progress Report
Last night's USDA crop progress report released after the close in essence paints a picture of a large immature crop, in good condition but lagging in development.
This late maturity is partly a result of a late planted crop and also the cool and wet summer that much of the Midwest has had this year.
Corn seems to be further behind than soybeans, with 75% at the dough stage and 32% denting. This compares to the five year averages of 88% and 60% respectively. Only 5% of the crop is mature the USDA say.
For beans 93% are setting pods, only slightly down on the five year average of 96%.
Condition ratings for both crops are very promising with beans and corn both rated 69% good/excellent.
The spring wheat harvest is miles behind normal at just 38% done compared to 79% normally. In North Dakota, the biggest producing state and the last to plant this year due to extreme wetness, the harvest is only 22% complete.
As with beans and corn though, crop conditions are great at 75% good/excellent.
It would seem overall that beans are 1-2 weeks behind normal development, with corn and wheat maybe 2-3 weeks behind.
For now it all hinges on the weather, if corn and beans can make it through to harvest without any significant frost damage then we will undoubtedly have bumper crops on our hands. Certainly a record soybean harvest and the second highest ever on corn, are a distinct possibility.
Whilst the wheat crop looks good, protein content is said to be low this year, meaning that a much larger percentage than normal may be destined to compete with corn in the feed sector.
This late maturity is partly a result of a late planted crop and also the cool and wet summer that much of the Midwest has had this year.
Corn seems to be further behind than soybeans, with 75% at the dough stage and 32% denting. This compares to the five year averages of 88% and 60% respectively. Only 5% of the crop is mature the USDA say.
For beans 93% are setting pods, only slightly down on the five year average of 96%.
Condition ratings for both crops are very promising with beans and corn both rated 69% good/excellent.
The spring wheat harvest is miles behind normal at just 38% done compared to 79% normally. In North Dakota, the biggest producing state and the last to plant this year due to extreme wetness, the harvest is only 22% complete.
As with beans and corn though, crop conditions are great at 75% good/excellent.
It would seem overall that beans are 1-2 weeks behind normal development, with corn and wheat maybe 2-3 weeks behind.
For now it all hinges on the weather, if corn and beans can make it through to harvest without any significant frost damage then we will undoubtedly have bumper crops on our hands. Certainly a record soybean harvest and the second highest ever on corn, are a distinct possibility.
Whilst the wheat crop looks good, protein content is said to be low this year, meaning that a much larger percentage than normal may be destined to compete with corn in the feed sector.