U.S. corn and soybean conditions dipped slightly in the past week on what analysts believe was too much rain in the Midwest this spring, but the overall the two crops remain in good or better condition.
Forecasts indicate a slowdown in the frequency of rain showers over the next few weeks, with hot weather entering the area beginning next week.
USDA's crop condition report on Monday rated corn 74% good to excellent, compared with 76% the previous week. However, the changes were mixed with 18% excellent, versus 17% a week ago; 56% good versus 59%. Fair ratings went to 21% from 20%, poor to 4% from 3% and very poor stayed at 1%.
USDA discontinued its corn planting and emerged tables for the season and will add corn silking next week.
In Iowa, the top corn and soybean producer, storms brought wind, rain and hail and limited fieldwork to two days, according to the state report. Its corn was rated 79% good to excellent and soybeans 76%.
Chicago's December corn futures moved higher last week as the regular rain showers may have done more harm than good to the crop. The futures then fell on Monday as the water damage was not expected to be severe and the upcoming dry weather may help the crop recover.
Soybeans were 95% planted and 90% emerged, both ahead of the averages, and were rated 72% good to excellent, compared with 73% a week ago, and close to trade expectations.
Winter wheat harvest at 33%
Winter wheat harvest advanced to 33% from the previous week's16% and surpassed the 31% average. Harvest was 24% done in Kansas, the largest wheat state, versus the 34% average. Texas was at 69%, versus the 64% average, while Oklahoma was at 74%, which matched the average.
The soft red winter harvest remained behind average with Illinois at 20% versus the 31% average; Indiana was at 13% versus 22%; and Arkansas, 62% versus 88%.
Winter wheat ratings were identical to the previous week at 5% excellent, 25% good, 26% fair, 22% poor and 22% very poor. The poor ratings were mostly in Kansas, Oklahoma and Texas where the crop was hurt by drought, an April freeze and harvest-time rain.
Soft red winter wheat was better with Arkansas wheat at 66% good to excellent, Illinois at 59%, Indiana at 69%, and Ohio at 69%.
Spring wheat was 98% emerged and 10% headed, versus the 95% and 16% averages. North Dakota, the top producer, was 97% emerged and 5% headed with 83% good to excellent.
Cotton squaring at 25%, rated 53% good to excellent
Cotton squaring was at 25% and bolls were set on 3%, versus the 27% and 6% averages. The crop was rated 53% good to excellent, up from 51% a week ago.