Crop Condition Falling
Crop Condition Report
The USDA June 20th, 2023, Crop Progress Report showed lower crop condition ratings for corn and soybeans. A commonly watched ranking from this report is the percentage of corn rated good to excellent (G/E). Across the US, 55% of corn and 54% pf soybeans were rated G/E (Figure 1 & Figure 2). This is the lowest mark for corn for this time of the year over the last 5 years and the second lowest rating on record since 1990 – only 1992 was lower. For soybeans, this is also the lowest rating for this time of the year for the past 5 years and the second lowest rating for soybeans since 1990 – like corn, only 1992 had a lower rating for this time of year.
Figure 1. Percent of US Corn Rated Good to Excellent
Figure 2. Percent of US Soybeans Rated Good to Excellent
This drop in crop conditions is due to the drought that continues to affect many corn and soybean producing areas of the US. Figure 3 shows the precipitation...
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