USDA’s first crop condition ratings pegged 73% of the crop as “good” to “excellent,” five points above traders’ expectations. Only 4% of the crop was rated “poor” to “very poor.” The crop is rated in the top two categories for 81% of Illinois, 76% of Indiana, 83% of Iowa, 60% of Minnesota and 75% of Nebraska.
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| This week | Last week | Year-ago |
Very poor | 1 | NA | 1 |
Poor | 3 | NA | 4 |
Fair | 23 | NA | 23 |
Good | 61 | NA | 58 |
Excellent | 12 | NA | 14 |
Corn planting advanced eight percentage points to 94% done as of Sunday, now two points ahead of the five-year average for early June and a point more advanced than traders anticipated. The two states of greatest concern have been North Dakota and Minnesota. Planting surged 25 percentage points to 81% done in North Dakota (92% on average) and increased 11 points in Minnesota to 93% (96%). Based on March intentions, there were still 684,000 acres of corn left to plant in North Dakota and 546,000 acres left in Minnesota.
USDA reported corn emergence at 78%, a jump of 17 points over the past week and three points behind the five-year average.
