USDA’s latest crop progress report, out Monday afternoon and covering the week through June 22, held some interesting data points for traders to digest. Of particular note, corn quality ratings tracked two points lower, bucking analyst expectations. Winter wheat quality ratings were down three points over the past week, while soybean quality ratings held steady.
Corn quality ratings saw a two-point dip, with 70% of the crop still in good-to-excellent condition through Sunday. Analysts were expecting to see quality ratings hold steady, in contrast. Another 24% of the crop is rated fair (up one point from last week), with the remaining 6% rated poor or very poor (up one point from last week).
Physiologically, 97% of the crop is now emerged, which is slightly ahead of 2024’s pace of 96% but slightly below the prior five-year average of 98%. And 4% of the crop is now silking, mirroring 2024’s pace and slightly behind the prior five-year average of 3%.
Soybean quality ratings held steady, with 66% of the crop in good-to-excellent condition through June 22. Analysts were expecting to see a one-point bump. Another 27% of the crop is rated fair (steady from last week), with the remaining 7% rated poor or very poor (also steady from last week).
Physiologically, 96% of this season’s crop has now been planted, up from 93% a week ago and slightly behind the prior five-year average of 97%. Ninety percent of the crop is now emerged, up from 84% last week. And 8% of the crop is now blooming, which is slightly ahead of the prior five-year average of 7%.
Winter wheat quality ratings faced a three-point drop this past week, with 49% in good-to-excellent condition. Another 32% of the crop is rated fair (up three points from last week), with the remaining 19% rated poor or very poor (unchanged from last week).
Physiologically, most (96%) of the crop is now headed, mirroring the prior five-year average. And harvest progress moved from 10% a week ago up to 19% as of Sunday. That’s noticeably slower than 2024’s pace of 38% and the prior five-year average of 28%.
Spring wheat quality ratings also shifted three points lower last week, with 54% now in good-to-excellent condition. Another 31% of the crop is rated fair (down three points from last week), with the remaining 15% rated poor or very poor (up six points from last week).
Meantime, 96% of the crop is now emerged. Seventeen percent is headed, up from 4% a week ago and slightly behind the prior five-year average of 18%.
Click here for more data from today’s report, including a state-by-state look at topsoil and subsoil moisture, days suitable for fieldwork and more.