12.20.2024
45z guidance fails to appear; government scrambles to pass spending bill
The US government spending bill failed twice in as many days. If a deal is not reached by midnight on Friday December 20, some federal services will...
The condition rating of the corn crop for the top 18 corn-producing states fell three points to 55 percent in the good-to-excellent category and increased a point in the poor-to-very-poor category to 14 percent. Good to excellent conditions in Illinois fell more than 17% to force the national average lower. Corn crop conditions compare unfavorably to last year’s ratings at this time of year, which showed 68 percent of the fields in good-to-excellent condition and 12 percent poor-to-very-poor. USDA data shows that corn reaching the dough stage is at 89 percent and 55 percent of the crop has reached the dent stage. Eleven percent of the crop has matured, which is 13 percent below the five-year average pace of 24 percent.
Soybean crop conditions improved slightly from last week’s report. Fields rated good-to-excellent are unchanged at 55 percent, while fields rated poor-to-very poor improved by one point to 12 percent. Improved conditions in Louisiana and South Dakota were mostly offset by deterioration of conditions in Illinois and North Carolina. Crop ratings compare unfavorably to last year, which showed 68 percent of the crop rated good to excellent condition and 10 percent poor to very poor during the same weekly period. USDA data shows 92 percent of the soybean crop in the pod setting stage, which is seven points below the five-year average of 99 percent.
The condition of the cotton crop reversed course, giving back all the gains seen last week. Conditions have worsened in three out of the past four weeks. Worsening conditions in Arizona, Tennessee, Texas, Oklahoma, and North Carolina were only partially offset by improved conditions in Kansas. Crop quality fell five points this week for fields rated good to excellent and climbed three points for fields rated poor to very poor. Overall, 43 percent of the crop is seen as good-to-excellent and 18 percent poor-to-very-poor. This is still an improvement from last season, which showed ratings of 38 percent good-to-excellent and 34 percent poor-to-very poor. Forty-three percent of the crop has bolls are in the opening stage, which is six points over the five-year average. The cotton harvest is underway and seven percent complete.
The condition of the peanut crop declined three points to 64 percent in the good-to-excellent category while fields rated poor-to-very-poor increased by two points to 8 percent. Declining conditions in Texas and Alabama outpaced improved conditions in Florida. This season’s crop quality is below last year’s, which had ratings of 72 percent good to excellent and five percent poor to very poor during the same time frame.
The spring harvest is 71 percent complete, up 16 points from last week and trails its five-year average of 87 percent by 16 points. All six reporting states trail their five-year average harvest pace. Montana and Washington are both more than 20 percent behind their harvest average.