USDA RELEASES STRONG CORN GOOD/EXCELLENT RATING

U.S. farmers nearly wrap up corn planting, while the soybean crop goes into the ground a lot faster than average.
Emergence of both crops remains ahead of five-year averages by 10%, according to the USDA Crop Progress Report.
CORN
As of Sunday, the U.S. had 95% of the corn crop planted, above an 87% five-year average and equal to the trade’s expectations.
Of the total U.S. corn planted, 81% of it has emerged, above the 70% five-year average.
In its report, the USDA pegged the U.S. corn good/excellent rating at 76%, above the trade’s expectations of 70%. This is the first good/excellent rating for the 2021 crop season.

SOYBEANS
As of Sunday, the USDA rated the nation’s soybean crop as 84% planted vs. a 67% five-year average.
The USDA noted that 62% of the soybeans are out of the ground vs. a 42% five-year average.

WHEAT
In its report, the USDA rated the U.S. spring crop as 43% good/excellent vs. 45% a week ago.
The U.S. winter wheat crop is rated as 48% good/excellent, vs. 47% a week ago.
Crop progress and condition estimates are based on survey data collected each week from early April through the end of November, according to the USDA report. “The non-probability crop progress and condition surveys include input from approximately 3,600 respondents whose occupations provide them opportunities to make visual observations and frequently bring them in contact with farmers in their counties. Based on standard definitions, these respondents subjectively estimate the progress of crops through various stages of development, as well as the progress of producer activities. They also provide subjective evaluations of crop conditions,” the USDA stated in its Monday report.
Most respondents complete their questionnaires on Friday or early Monday morning and submit them to the National Agricultural Statistics Service (NASS) field offices in their states by mail, telephone, fax, email, or through a secured internet website. A small number of reports are completed on Thursday, Saturday, and Sunday. Regardless of when questionnaires are completed, respondents are asked to report for the entire week ending on Sunday, according to the report.

Source : agriculture