Corn ratings hold in the latest week. Soybeans slip 2%.

Corn ratings were unchanged from the prior week at 65% good/excellent. The trade expected a 1% decline to 64%. For this week corn is rated as #15 out of 38 years.

For corn, specifically, ratings show some accuracy for yield modeling. This week's rating can explain 55% of final yields. This week's rating would imply +1.8% from starting trend. Yield would be 184.3 bpa vs. USDA's 181.0 trend view.

Soybean ratings fell 2% this week to 65% good/excellent. The trade expectation was -1% to 66%. Out of 38 prior years for this week this tied for #9.

Ratings models have accuracy at this time. Today's number would imply soybean yields are currently +3.5% from USDA's starting 52.0 bpa yield, 53.8.

The first 2024/25 winter wheat planting estimate was released. USDA estimated 2% of fall planting. That was on the trade expectation. For this early start to planting, we are over the 1% five year average.

USDA is no longer reporting spring wheat ratings. They are in the later phase of harvest reports. Today's update suggested an increase from 51% complete last week to 70%. That was just over the 69% estimate. It is on the 70% five year average.

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