USDA Crop Progress: Corn Conditions Hold Steady as Spring Wheat Harvest Surges

The latest USDA NASS crop progress update highlighted steady national corn ratings alongside minor declines in soybeans and spring wheat, while harvest progress surged in spring wheat. Corn Good/Excellent ratings held at 61%, in line with the average analyst estimate, while soybean ratings slipped 1 point to 62%. Spring wheat provided the sharpest weekly signal as Good/Excellent ratings fell 4 points while harvest pace jumped to 24%, running well ahead of trade expectations.

• US corn Good/Excellent ratings held unchanged at 61%, in line with the average analyst estimate.
• US soybean Good/Excellent ratings eased 1 point to 62%, coming in slightly below the average analyst estimate of 63%.
• Spring wheat harvest leaped 19 points to 24% complete, topping the average analyst estimate of 15%.
• Winter wheat harvest reached 91% complete, matching the average analyst estimate.

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