Jun 18, 2024
2024 U.S. Corn 72% GD/EX Down 2%, Soy 70% GD/EX Down 2%
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
Corn - The condition of the 2024 U.S. corn crop declined 2% last week to 72% rated good/excellent. Eight states indicated that the corn condition had improved last week and 10 indicated that the corn condition had declined. Most of the improvements were found in the central and southern areas while most of the declines were found in the eastern and northern areas. The top five rated corn states are: Pennsylvania, Nebraska, Michigan, South Dakota, and a tie between Minnesota and Iowa. The five lowest rated corn states are: North Carolina, Colorado, Texas, Kentucky, and Kansas.
The corn condition declined last week and it will likely decline again this week given the hot and dry forecast for most of the Midwest.
Soybeans - The condition of the 2024 U.S. soybean crop declined 2% last week to 70% rated good/excellent. Nine states indicated that the soybean condition had improved last week, 7 indicated that the soybean condition had declined, and 2 states were unchanged. Most of the improvements were found in the southern and western areas while most of the declines were found in the eastern and northern areas. The top five rated soybean states are: Nebraska, Louisiana, Mississippi, Iowa, and a tie between Arkansas and Minnesota. The five lowest rated soybean states are: North Carolina, Kentucky, Illinois, Missouri, and Tennessee.
The soybean condition should decline again next week if the hot and dry forecast verifies. In the hotter and dryer areas, the early soybean growth may be delayed given the adverse conditions.
Soil Moisture - The nation's topsoil moisture declined last week with 1 state indicating improved soil moisture and 17 states indicating lower soil moisture. The only state with higher soil moisture last week was Minnesota with all the other states indicating lower soil moisture. The five states with the highest soil moisture are: Minnesota, Wisconsin, Louisiana, Kentucky, and Missouri. The five states with the lowest soil moisture are: North Carolina, Ohio, Mississippi, Kansas, and Arkansas.
Rainfall last week and over the weekend generally favored the northern and northwestern Midwest. The rainfall forecast for this week once again favors the northern Midwest with dryer weather elsewhere. Temperatures are going to be much above normal for most of the Corn Belt which should result in declining soil moisture in most areas.