The June 15th US crop progress report shows corn at 94% emerged. Over the last 7 days the US corn belt as seen some very good rain with parts of Iowa, Illinois and Missouri seeing 75mm to 100mm. General rain across the balance of the corn belt was between 15-50mm. This years corn crop in the US appears to be off to a very good start. The percentage of the US corn crop rated G/E improved 1pt to 68%.
US soybeans are 95% sown and rated at 66% G/E. Cotton is 86% sown and 19% squared, with some boll set in California and Arizona and the SE cotton belt. Cotton was rated at 50% G/E, a decline of 3pts week on week. 68% of the sorghum crop is sown, a week on week improvement of 15pts. Sowing still lags slightly behind the 5 year average pace, mainly due to planting delays in Kansas.
Winter wheat harvest has progressed to 25% complete for the total US winter wheat crop. Wheat harvest in Kansas is estimated at 28% complete, a whole 20pts ahead of the 5 year average. The Kansas crop is rated at just 14% Good and 57% Poor / Very Poor. The national US winter wheat crop rating improved from 25% G/E last week to 27% G/E this week, historically terrible.
Around 6% of the US spring wheat crop is now in head. The northern states, N.Dakota, Montana and Minnesota, all appear to be progressing a little slower than average. Overall the US spring wheat crop is rated at 55% G/E, a week on week improvement of 3pts.
The 7 days forecast for the US includes more heavy rain across the corn belt and eastern Kansas. Heavy rain is also expected across the major cotton growing states in the south.
Saskatchewan should finish sowing this week, just ahead of some very handy rain predicted for next week. Much of Alberta and Saskatchewan are expected to see 30-50mm of rain over the next 7 days. Canola and rapeseed futures were the biggest losers last night. Improving conditions in Canada, and a sharply lower crude oil market. The US announced the Straight of Hormuz will open again Friday, preceding 60 days of talks re Iran’s nuclear program.