Crop Conditions Remain Resilient

Market Intel / July 31, 2018

For the third week in a row, USDA has announced in its Crop Progress report that 72 percent of the U.S. corn crop is in good-to-excellent condition. The current 72 percent rating is 11 percentage points above last year’s rating of 61 percent. For further perspective, the five-year average for corn crops of 69 percent good-to-excellent places today’s static condition of 72 percent as the best in years. USDA reported 9 percent of the corn crop in poor to very poor condition, which remains in line with the past three weeks as well.

Analysts predicted corn and soybean crop conditions to decline slightly, about 1 percent for the week ending July 29, citing the dryness spreading throughout the Midwest. However, conditions have remained robust, with soybeans ratings holding at 70 percent good-to-excellent condition. The current rating is also 11 percentage points higher than the prior year’s level and 4 percentage points above the five-year average of 66 percent. Eight percent of the soybean crop is in poor or very poor condition, unchanged from the prior week. Figure 1 and Figure 2 highlight the progression of this year’s good-to-excellent crop conditions.

Contact:
Megan Nelson
Economic Analyst
(202) 406-3629
megann@fb.org
twitter.com/@MeganRNelson1
 

Share This Article

Credit: Kansas Farm Bureau, used with permission.  

This Market Intel provides farmers and ranchers with a snapshot of what is happening to the U.S. cattle herd as we head toward the finish line of 2022.

Full Article
Credit: 1778011/ CC0 

Milk production remains an integral piece of agricultural production in the United States. With wild market disruptions and supply chain shortfalls underpinning milk price volatility most of the past five years, understanding the farm bill provisions intended to prevent further dairy farm closures is vital.

Full Article