Hot dry weather is seeing rapid progress in the USA HRW harvest. Headers are active across most of Oklahoma now and not far off from moving into Kansas. The weekly USDA crop progress report showed 19% of the Oklahoma crop is already in the bin. Yield and quality reports are variable, generally the yields appear to be less than expected and the quality is still a little hard to judge. In Kansas 98% of the crop is now in head. The condition rating of the US winter wheat crop was unchanged a 51% G/E, there was a 1% move from the Good column to the Excellent column though. The Kansas crop is rated at 42% G/E.
In the north of the US the spring wheat plant progressed to 97% done, so basically all in. The condition rating improved a little with 82% of the spring wheat crop in the US now rated as Good / Excellent. Better weather will be needed to sustain this rating.
Corn sowing in the states is all but done and the rating also improved, now at 75% G/E compared to just 59% last year. Soybeans also saw a sharp jump in sowing progress, now pegged at 86% in the ground and rated at 72% G/E.
The good progress across the board and the healthy crop rating put pressure on US future. Wheat, corn and soybeans all closed the session lower.

The outlook for world canola / rapeseed continues to look good in spite of increases in production for Australia and Canada. Demand into the EU remains strong thanks to a smaller crop and values should be helped as world oil prices increase as demand gets back to normal.