USDA Crop Progress Report: Soybeans 83% In.

Jun 06, 2016

USDA released the weekly Crop Progress Report

Highlights from the report.

The USDA’s corn condition rating improved over the past week.

As of Sunday, 75% of the crop is reportedly in good to excellent condition, up 3% on the week, with 98% of the crop planted and 90% emerged.

In the first rating of the season, 72% of soybeans are called good to excellent. 83% of soybeans have been planted and 65% have emerged, both ahead of the respective five year averages.

The winter wheat harvest is just underway at 2%, compared to 10% typically this time of year, following widespread storms in the Plains last week. 91% of the crop has headed and 62% is in good to excellent shape.

79% of spring wheat is called good to excellent, unchanged on the week.

66% of U.S. pastures and rangelands are rated good to excellent, also unchanged on the week.

To review the whole USDA Crop Progress report with state by state breakdowns click on the following link.

http://usda.mannlib.cornell.edu/usda/current/CropProg/CropProg-06-06-2016.pdf

Video: USDA Feb Crop Report a WIN for Soybeans + 1 Year Trade Truce Extension

USDA took Trumps comments that China would buy more U.S. soybeans seriously and headline news that the U.S./China trade truce would be extended when Trump/Xi meet in the first week of April was a BIG WIN for soybeans this week! 2026 “Mini” U.S. ethanol boom thanks to 45Z + China’s ban of phosphates from Feb. – August of 2026 will not help lower fertilizer prices anytime soon! 30 mmt of Chinese corn harvest is of poor quality and maybe a technical breakout in wheat futures.

*Apologies! Where we talk about the latest CFTC update as of 10th Feb 2026, managed money funds covered their net short position in canola to the tune of +42,746 week-on-week to flip to net long 145 contracts and not (as we mistakenly said) +90,009 wk/wk to 47,408.