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US crop report - Wheat and corn show promising growth

By Farms.com

According to the latest USDA Crop Progress report, winter wheat and corn across the U.S. are showing promising signs. In Oklahoma, winter wheat good to excellent ratings have soared to 52% from a mere 7% last year. Sorghum and peanuts are also progressing, with slight variations from the five-year averages.

Corn planting nationally is slightly down from last year but shows resilience with 36% planted. Soybean and cotton planting is progressing, with early signs of emergence suggesting a robust growing season ahead.

In Kansas, the surge in winter wheat conditions from last year’s lows is particularly noteworthy. Alongside, corn and soybean planting is ahead of schedule, positioning Kansas farmers for potentially high yields.

Texas presents a mixed picture, with wheat showing better health than last year but concerns persisting over pasture conditions. The state has seen a notable increase in cotton planting, benefiting from favorable conditions.

The report encapsulates the dynamic nature of agricultural production, offering a detailed look at crop conditions and planting progress. Such insights are vital for farmers planning their activities and for stakeholders monitoring agricultural trends and preparing for the market impacts.


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Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?

Video: Will the 2025 USDA December Crop Report Be a Market Mover/Surprise?


Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.