Soybean: Good-To-Great Rate Declines

WASHINGTON, July 5 News: The U.S. Department of Agriculture’s weekly national crop progress report showed that the U.S. soybean good-to-excellent rate was 2 percentage points lower than a week earlier, exceeding market expectations for a decline. In the 18 states that account for 96 percent of the nation’s soybean acreage, the U.S. soybean emergence rate was 96 percent as of Sunday, July 3, 91 percent last week, 98 percent a year earlier, and a five-year average of 96 percent. The soybean pod setting rate for this year, reported for the first time this week, is 3%, compared with 3% in the same period last year and the five-year average of 3%. Soybeans were 63% good to good, 65% last week and 59% last year. Analysts on average expected a good-to-good rate of 64%. The ratio of soybean ratings this week is 9% excellent, 54% good, 28% fair, 7% poor, and 2% bad; last week, 10% was excellent, 55% good, 27% fair, 6% poor, and 2% bad; last year In the same period, it was excellent by 10%, good by 49%, average by 30%, poor by 8%, and poor by 2%.

Current Market Price in China for Chinese Soybean