USDA reports decline in U.S. soybean and pasture conditions

According to the latest USDA reports, U.S. soybean crop conditions have declined slightly, with 62% of the crop rated as good to excellent, a 1% decrease from the previous week. Most soybeans are currently blooming, with 93% of the crop in that stage.

U.S. corn conditions remain stable, with 61% rated as good to excellent. Silking is nearly complete, with 94% of the crop having reached this stage.

In the Southern Plains, pasture and range conditions have seen a notable decline. In Oklahoma, good to excellent ratings fell to 20% from 26% the previous week, while poor to very poor ratings rose to 44%. Kansas and Texas have also reported declines in good to excellent pasture conditions compared to last year.

In the commodities market, soybean prices have maintained gains supported by crude oil and technical buying. While soybean export inspections were up for the week, movement to China has been minimal as recent purchases were primarily for 2026/27 delivery. Meanwhile, the winter wheat harvest is nearing completion, with 91% of the crop harvested.