By Julie Ingwersen

CHICAGO, July 5 (Reuters)The U.S. Department of Agriculture (USDA) is expected to rate 65% of the country’s corn crop in good to excellent condition in its weekly crop progress report, down 2 percentage points from the previous week due to dry conditions, according to the average estimate in a survey of 12 analysts on Tuesday.

Estimates for good-to-excellent ratings ranged from 63% to 67%.

For soybeans, analysts on average predicted the USDA would rate 64% as good to excellent, down 1 point from a week earlier. Estimates ranged from 62% to 65% good-to-excellent.

The latest weekly U.S. Drought Monitor report showed abnormal dryness in 58% of Illinois and 47% of Iowa, the top two producers of soybeans and corn.

The government was scheduled to publish its report at 3 p.m. CDT (2000 GMT) on Tuesday, a day later than normal due to Monday’s holiday.

For spring wheat, analysts on average expected the USDA to rate 59% of the crop as good to excellent, unchanged from the previous week.

The U.S. harvest of winter wheat was seen as 57% complete, up from 41% by June 26, with estimates ranging from 53% to 61% complete. Winter wheat condition ratings were seen flat, with 30% of the crop rated good to excellent.

All figures in percent:

Category

Analyst average

Analyst range

USDA last week

Corn condition*

65

63-67

67

Soybeans condition*

64

62-65

65

Spring wheat condition*

59

56-62

59

Winter wheat harvested (percent)

57

53-61

41

Winter wheat condition*

30

30-31

30

*Percent good/excellent

(Reporting by Julie Ingwersen; Editing by David Gregorio)

((Julie.ingwersen@thomsonreuters.com; 1-313-484-5283; Reuters Messaging: julie.ingwersen.thomsonreuters.com@reuters.net))

Source: Nasdaq

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