The USDA weekly crop progress report has around 8% of the US corn crop harvested. The corn crop condition was rated at 44/13=57% G/E versus 42/14=56% G/E last week. In Friday nights USDA WASDE, the average US corn yield was reduced month on month to 178.5bu/ac (11.203t/ha), although lower than last months 180.7bu/ac estimate, it was still higher than the ProFarmer crop tour estimate.
With the US central corn belt states of Illinois, Iowa and Indiana only very early into harvest, it may take another week or two to see who is closer.
The US soybean crop rating was unchanged week on week at 46/12=58% G/E. Soybean futures bounced after falling sharply on Friday. The slight recovery rolled over into both the canola and rapeseed futures markets. Canola is seeing some assistance from terrible harvest conditions across much of the Canadian Prairies, but this is being counted by what is shaping up as a record Australian crop.
US sorghum harvest is progressing with around 22% of the national crop now in the bin. Progress across Kansas remains slow, with just 3% of the crop there harvested. Sorghum conditions were stable at 23/5=28% G/E versus 21/7=28% G/E last week.
Spring wheat harvest is winding up with 93% of the US crop now in the bin. Winter wheat sowing is underway. Kansas has already sown around 4% of the predicted acres there. Nationally the US winter wheat crop is 8% sown.
US weekly export loadings were mostly within trade estimates prior to the release of the data. Wheat came in at 457kt, just under the high end of expectations, but still much lower than last year. Corn loadings were good at 1.525mt, a little less than last week, but keeping up to pace with last years volume to date. The best performer was soybeans. At 673kt, loadings came in a little above trade estimates and well above last weeks volume. Year on year US soybean loadings are still lagging though, back roughly 16%.
Russian wheat export volume through the Nordic region is expected to top out at 7mtpa. Black Sea volume is usually 5 to 6 times this volume .