Crops Are Looking Good

Weekly report shows conditions are good for corn and beans despite slow development.

Ordinarily the Monday USDA Crop Report affects markets for several days after being released. However, with the August USDA Supply and Demand Report out Tuesday at 7:30 a.m. CDT, this week's report will barely register a blip on trader's radar screens. USDA meteorologist Brad Rippey says conditions of both corn and soybeans are very good although plant development is still a little behind normal.

"Corn condition continues to look very good," Rippey says. "We see the corn at 67%, more than two-thirds, good to excellent, up a point from last week and well above last year's condition of 56% good to excellent."

Rippey says it's the same story for soybeans, with slower than normal plant development, but 63% of the plants are rated in good to excellent condition compared with the 56% in that category this time last year.

TAGS: USDA
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