US Crop progress as per weekly report by USDA


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Based on the USDA Crop Progress report, roughly 69% of the US Winter Wheat crop has progressed to the heading stage, marking a notable increase from 58% compared to the previous year. Moreover, approximately 49% of the crop is rated as being in good to excellent condition, showcasing a significant improvement from the 31% reported during the same period last year. As for US Spring Wheat, as of May 19th, 2024, only 79% has been planted, and 43% has emerged, which is notably higher compared to 27% during the same period last year. Overall, the crop outlook in the US appears promising, suggesting that the supply side may be robust this year.