Commodities Buzz: USDA Estimates Decline In US Corn Crop Rating, Steady Gains Seen In Soyabean Crop

As per the latest update from United States Department of Agriculture (USDA), the condition of the 2018 U.S. corn crop declined 1% this week to 77% of the crop rated good to excellent. Six states indicated that the corn condition improved last week, 10 states indicated that the corn condition declined last week, and 2 were unchanged. Most of the improvements were found in the western Corn Belt while most of the declines were found in the central and eastern Corn Belt.

The condition of the 2018 U.S. soybean crop held steady last week with 73% of the soybeans rated good to excellent. Seven states indicated that the soybean condition improved last week, 9 states indicated that the soybean condition declined last week, and 2 were unchanged. Most of the improvements were found in the southern and western Corn Belt while most of the declines were found in the central Corn.