Crops have held steady over the last week with conditions showing little change, and weather over the next week should be favorable, as the growing season pushes on.
USDA’s Weekly Crop Progress Report shows the nation’s corn crop is unchanged, holding at 67 percent good-to-excellent. 68 percent of soybeans are sitting in the top category. Spring wheat lost some traction and is at 72 percent good-to-excellent, which is down two points from last week. Also, the winter wheat harvest is in the home stretch at 93 percent complete.
Weather in the flyover states is expected to be ideal in the coming week.
Related Stories
Lower turkey and wheat prices helped ease Thanksgiving costs, but underlying farm-sector pressures remain significant.
Cattle and hog supplies continue to tighten while dairy output expands, creating a split outlook in which red-meat prices soften and milk values come under pressure from larger supplies.
Firm live cow prices and shifting dairy-side culling suggest cull cow values may stay stronger than usual this winter despite weaker cow beef cutout trends.
Lewis Williamson with HTS Commodities shares an update on post-WASDE grain movement, with corn leading export momentum, soybeans steady, and wheat and sorghum continuing to move selectively.
New SDRP funding and expanded loss programs give producers additional tools to rebuild cash flow and stabilize operations after two years of severe weather losses.
Strong U.S. yields and steady demand leave most major crops well supplied, keeping price pressure in place unless usage strengthens or weather shifts outlooks.