US corn, soy, wheat ratings expected to decline
The USDA is expected to report a decline in U.S. crop conditions for corn and soybeans, with 66% and 67% rated good-to-excellent, respectively. This marks a drop from last week’s 67% for corn and 68% for soybeans. The winter wheat harvest is forecasted to be 83% complete, up from 76% previously. Spring wheat conditions are anticipated to decline to 75% good-to-excellent, down from 77%. The report is due at 3 p.m. CDT.
CHICAGO, July 29 (Reuters) -The U.S. Department of Agriculture is expected to rate 66% of the nation’s corn crop and 67% of U.S. soybean crops in good-to-excellent condition in its weekly crop progress report, a decline for both from the previous week, a Reuters poll of 13 analysts showed on Monday.
The ratings represent a 1 percentage point dip from last week for corn and soy, with corn rated 67% good to excellent last week and soy rated 68%.
The U.S. winter wheat harvest is expected to continue its rapid advance. Analysts, on average, expected the USDA to show the harvest as 83% complete, up from 76% last week.
For spring wheat, grown in the northern Plains, analysts on average expect a rating of 75% good to excellent, down from the 77% the USDA showed last week.
Source Link : https://www.xm.com/research/markets/allNews/reuters/us-corn-soy-wheat-ratings-expected-to-decline-53891967
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