USDA’s latest crop progress report, out Monday afternoon and covering the week through June 29, held some interesting data points for traders to digest. Of particular note, corn quality ratings shifted three points higher, with analysts expecting that number to hold steady. Winter wheat quality ratings shifted one point lower, meantime, with harvest more than one-third complete.
Corn quality ratings showed an unexpected hike, moving from 70% of the crop in good-to-excellent condition up to 73% as of Sunday. Analysts were not anticipating to see any changes. Another 22% of the crop is rated fair (down two points from last week), with the remaining 5% rated poor or very poor (down one point from last week).
Physiologically, 8% of the crop is now silking, up from 4% last week. That’s behind 2024’s pace of 10% but still ahead of the prior five-year average of 6%.
Soybean quality ratings were mostly steady this past week, with 66% of the crop still in good-to-excellent condition. Analysts were anticipating a one-point improvement. Another 27% of the crop is rated fair (unchanged from last week), with the remaining 7% rated poor or very poor (unchanged from last week).
Physiologically, 94% of this season’s soybean crop is now emerged, with 17% of the crop blooming and 3% of the crop setting pods. Each of these data points is within one point of their respective prior five-year averages.
Winter wheat quality faded one point lower last week, with 48% of the crop rated in good-to-excellent condition through June 29. Analysts were not expecting to see USDA levy any changes this past week. Another 32% of the crop is rated fair (unchanged from last week), with the remaining 20% rated poor or very poor (up one point from last week.)
Harvest progress improved from 19% a week ago up to 37% through Sunday. That’s noticeably below 2024’s pace of 52% and moderately lower than the prior five-year average of 42%. Arkansas (90%), Texas (80%) and North Carolina (80%) are leading the way among the top 18 production states so far.
Spring wheat quality ratings eased a point lower last week, with 53% of the crop now in good-to-excellent condition. Another 33% of the crop is rated fair (up two points from last week), with the remaining 14% rated poor or very poor (down one point from last week).
Ninety-six percent of the crop is now emerged, up from 93% a week earlier. And 38% is now headed, up from 17% last week.
Click here for more data from today’s report, including a state-by-state look at topsoil and subsoil moisture, days suitable for fieldwork and more.