MEMPHIS, TENN. (RFD NEWS) — The latest USDA Crop Progress report shows corn conditions holding steady, with 67 percent of the crop rated good to excellent. Soybean conditions slipped slightly, falling one point to 64 percent good to excellent.
Lewis Williamson with HTS Commodities joined us on Tuesday’s Market Day Report to discuss the latest crop condition numbers, weather concerns, global production challenges, and what markets are watching moving forward.
In his interview with RFD News, Williamson noted that while corn conditions remain stable, the crop is tracking below last year’s pace. He noted that at this point last year, 74 percent of the U.S. corn crop was rated good to excellent, compared to 67 percent this year. Soybean conditions are also slightly lower than last year, down two points from the same period.
He said the biggest factor driving markets higher will continue to be weather, particularly as the crop enters critical development stages. Williamson noted that current weather models are showing some uncertainty, with questions remaining about temperatures and conditions heading into pollination.
Beyond the U.S., Williamson said weather challenges in Europe are also becoming a major market factor. He pointed to continued heat and dryness in parts of France and Spain, where crop conditions are deteriorating due to limited moisture and ongoing stress.
Williamson added that global demand is another key piece to watch, highlighting recent Chinese purchases of U.S. soybeans. He said China’s buying activity, along with upcoming trade discussions, could play an important role in market direction.
Looking ahead, Williamson said producers should continue monitoring both weather developments and trade negotiations, including the ongoing review of the U.S.-Mexico-Canada Agreement.
He said farmers continue to face significant financial pressure, with rising input costs and lower commodity prices creating a difficult environment. Williamson added that producers are seeking greater certainty and support as they navigate another challenging farm economy.
Williamson said the coming weeks will be critical for markets as weather patterns, global demand, and trade developments continue to shape the outlook for the remainder of the growing season.
