USDA Crop Progress Report: Corn and Soybean Conditions Steady in Mid-July

The USDA released its 16th Crop Progress report of the 2024 growing season on July 15, providing an update on the current conditions of key crops, including corn, soybeans, wheat, and oats. The report offers valuable insights for farmers, agronomists, and market analysts tracking the progress of this year’s harvest.

Corn Crop Progress

As of July 14, 41% of the 2024 corn crop in the top 18 corn-growing states is silking. This is a significant increase from 24% the previous week and is ahead of the five-year average of 32%. The silking stage is critical for corn as it marks the period when pollination occurs, which directly impacts kernel development and yield potential.

Moreover, 8% of the corn crop across 11 of those states has reached the dough growth stage. This figure is up from 3% the prior week and also surpasses the five-year average of 4%. The dough stage is another crucial phase, indicating the beginning of kernel hardening, which will eventually lead to mature grain.

Corn Crop Condition

The condition of the corn crop in the top growing states is rated as follows:

7% Very Poor
11% Poor
25% Fair
43% Good
14% Excellent

These ratings suggest that while there are areas experiencing challenges, a significant portion of the crop remains in good to excellent condition, boding well for the overall yield prospects.

Soybean Crop Progress

The report also highlights the status of the soybean crop. Soybeans are a major crop in the U.S., and their condition is closely monitored:

35% of the soybean crop is blooming, up from 25% the previous week and ahead of the five-year average of 31%.
5% of the soybean crop is setting pods, up from 1% the week prior and slightly ahead of the five-year average of 4%.

Soybean Crop Condition

The condition of the soybean crop is rated as follows:

6% Very Poor
10% Poor
26% Fair
45% Good
13% Excellent

Similar to corn, the soybean crop condition shows a majority in good to excellent categories, suggesting favorable growing conditions in many areas.

Wheat and Oat Progress

The USDA report also provides updates on wheat and oats:

Winter Wheat: 74% of the winter wheat crop is harvested, compared to 65% the previous week and ahead of the five-year average of 69%.
Spring Wheat: 92% of the spring wheat crop is headed, up from 84% the prior week and matching the five-year average.
Oats: 84% of the oat crop is headed, consistent with the five-year average.

Conclusion

The USDA’s mid-July Crop Progress report indicates steady conditions for corn and soybeans, with significant advancements in key growth stages over the past week. While there are areas of concern, the overall outlook remains positive, with a substantial portion of both crops in good to excellent condition. These updates are crucial for anticipating market trends, making informed agricultural decisions, and understanding the broader implications for food supply and pricing.