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US Corn, Soybean Crops See Expected Improvement

As expected, the condition of the US corn and soybean crops improved this past week in the wake of more moderate temperatures and improving rainfall. 

Monday’s USDA crop progress report put the nationwide corn crop at 57% good to excellent as of Sunday, up 2 points from a week earlier. The soybean crop also saw a 2-point gain on the week to improve to 54% good to excellent.  

After last week’s more crop-friendly conditions, more rain was falling today, with significant amounts in the eastern Corn Belt, from Illinois to Ohio. Over the last several days, sometimes heavy rain also fell across the western and southwestern production regions. 

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Weather's Role in Chasing 4th Consecutive Year of Record Crops

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Jim Roemer explains why a rapidly strengthening El Niño — paired with record heat baking Western Europe's corn crop — points toward a neutral-to-bearish summer for corn and soybeans, not a repeat of the historic 1983 Corn Belt drought.