The condition of this year’s soybean crop was downgraded by 2 percentage points, while no change was registered for the corn crop as of Oct. 14, 2018, according to the latest Crop Progress report from USDA.
On Monday, USDA reported that as of May 7 47% of U.S. corn acres had been planted. This compares to 34% a week ago and 61% a year ago. It is just slightly below the 5-year average of 52% of corn acres planted for this date.
USDA's latest Crop Progress reports indicate that the overall picture for the corn and soybean crops continues to improve. As a result, the accuracy of the ag agency’s record-setting yield estimates could be right on the mark.
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