The nation’s corn crop took a stumble recently. The latest Crop Progress Report from USDA shows while it may have declined, it is still holding well above last year’s levels.
It is rated 67 percent good to excellent, which is down a point from last week but ahead of the 57 percent rating this time last year. 68 percent of soybeans are in the top category, which is unchanged from last week and 14 points ahead of last year.
77 percent of the spring wheat crop is holding at good to excellent, and 76 percent of winter wheat is now in the bin, which is 11 percent ahead of last year’s 65 percent and four above the five-year average.
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Overall, the report suggests a shift toward more comfortable supply levels, with demand emerging as a key factor to watch in the months ahead.
