CHICAGO, July 20 (Reuters) – U.S. corn ratings were steady on the prior week with the amount rated excellent edging higher, according to state crop reports released on Monday.
Soybean condition ratings also stayed steady on last week with gains in the western belt countering spillage in the eastern belt but potential yields remain encouraging, analysts said.
“This week’s corn rating counts more than anything since we’re in the middle of pollination and we edged higher,” said Rich Feltes, a senior grains analyst with brokerage RJ O’Brien.
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Corn condition in the top 18 states was 69 percent good to excellent, unchanged from the previous week. But 17 percent of the crop was rated excellent and 52 percent good, versus 15 percent excellent and 54 percent good the previous week.
“Weather the week ahead suggests conditions will be stable or even better next week. This is one of the most important growing weeks of the entire summer – the biggest pollination week of the summer,” Feltes added.
For soybeans, 62 percent of the crop was rated good to excellent – steady with a week ago. While weekly ratings fell in Indiana, Illinois and Ohio, soy conditions improved in Minnesota, North Dakota and Nebraska.
Crops in the eastern Midwest continue to be hit by heavy rains and winds, damaging plants as well as stalling the soft red winter wheat harvest, especially in Michigan and Ohio.
The heavy rains continue to damage mature wheat in the leading SRW state of Ohio.
“Some wheat that has been harvested, has had low test weights, high levels of vomitoxin, and very high moisture content,” the Ohio crop report said. “Some wheat has been of such poor quality, it is not able to be sold.”
In contrast, the hard red winter wheat harvest made good progress in the western states, which pushed the national harvest to 75 percent complete – surpassing the historical average for the first time this season.
