USDA raises winter wheat ratings, still 2nd worst on record
The U.S. winter wheat crop is experiencing its second worst start on record, with only 41% rated in good-to-excellent condition as of Sunday. This is a slight improvement from the previous week. The crop was 87% planted, slightly exceeding expectations, but weeks of warm, dry weather have impacted planting and stressed crops. In contrast, the corn and soybean harvests are progressing well, with corn 91% and soybeans 94% harvested, although soybean progress was slightly below expectations. More rain is forecasted, which may help improve conditions
CHICAGO, Nov 4 (Reuters) -The U.S. winter wheat crop was off to its second worst start on record dating back to 1986 after a weekly U.S. Department of Agriculture’s report showed just 41% of the recently seeded crop in good-to-excellent condition as of Sunday.
The low rating, up slightly from a week earlier and matching expectations from a Reuters poll of 10 analysts, comes as crops in other major exporting countries including Argentina, Australia and Russia have been hit by dry conditions.
Meanwhile, the pace of the U.S. corn and soy harvests was roughly in line with analyst expectations, the USDA said in its weekly crop progress and condition report.
Weeks of warm and dry weather across the U.S. Midwest and Plains this autumn sped up corn and soy harvesting but delayed winter wheat planting and stressed crops that farmers were able to seed.
However, rains over Plains states the past week cut dryness for the drought-stricken wheat crop and more showers are expected in the next two weeks, according to the Commodity Weather Group.
The U.S. winter wheat crop rating marked a slight improvement from the 38% good-to-excellent rating a week earlier, USDA data showed.
The U.S. winter wheat crop was 87% planted as of Sunday, which is roughly on par with previous years and slightly higher than analyst estimates, according to USDA data.
The U.S. soybean harvest was 94% complete as of Sunday, the fastest pace since 2022 but below expectations of 95%, and the corn harvest was 91% complete, above expectations of 90% and the fastest since 2012.
All figures in percent:
| Category | Analyst average | Analyst range | USDA this week | USDA last week |
| Corn harvested (%) | 90 | 87-92 | 91 | 81 |
| Soybeans harvested (%) | 95 | 93-95 | 94 | 89 |
| Winter wheat planted (%) | 86 | 84-90 | 87 | 80 |
| Winter wheat condition ratings* | 41 | 38-43 | 41 | 38 |
| *% good/excellent |
Source Link : https://www.xm.com/research/markets/allNews/reuters/usda-raises-winter-wheat-ratings-still-2nd-worst-on-record-53960255
Recommended for you
