By: Marc Schober
Marc Schober is the editor of Farmland Forecast an educational blog devoted to investments in agriculture and farmland.
Crop Progress: Corn, Beans Deterioriate Due To Rain
Jun 22, 2010
Yesterday afternoon, the USDA released its weekly crop progress report. Progress in soybean planting is almost complete across the 18 primary producing states. During the last week, 2% of the entire soybean crop was planted; bringing the total planted crop at 93%. This compares to a 5 year historical average of 94% in similar time periods, and 2009’s estimate of 91%.
The condition of the corn crop fell slightly over the past week as roughly six times the normal amounts of precipitation occurred in Iowa and Illinois. The USDA estimated 75% of the corn crop is in good or excellent condition, down from 77% a week earlier. 8% of corn is in poor or very poor condition, up from 5% last week. During this week in 2009, 71% of the crop was in good or excellent condition and 7% was in poor or very poor condition.
Of the 18 primary soybean producing states, 87% of the soybeans have emerged. The 5 year historical average is 88%. By this week last year, only 82% of the soybean crop had emerged. This week soybeans worsened slightly in condition. 8% of the soybean crop was in poor or very poor condition while 69% was in good or excellent condition. Last week only 5% was in poor or very poor condition and 73% of the crop was in good or excellent condition.
The winter and spring wheat crops are in great condition, compared to last year’s crop. In the 18 primary producing states of winter wheat, 65% of the crop is in good or excellent condition while only 9% is in poor or very poor condition. Last year, 45% of the crop was in the good or excellent condition and 28% was in poor or very poor condition. In the 6 primary producing states of spring wheat, 84% of the crop is in good or excellent condition this year compared to only 77% last year. This year 1% of the spring wheat crop is in poor or very poor condition while 4% was last year.
Corn prices increased 3.2% over the past week ending at $3.60 per bushel and soybeans were also up 5.4% to $9.91 per bushel. Year-over-year corn prices are down 11.3% and soybeans are off 17.2%.
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