CHICAGO, June 27 (Reuters) – The U.S. Department of Agriculture (USDA) is expected to rate 69% of the country’s corn crop in good to excellent condition in its weekly crop progress report, down 1 percentage point from a week ago, according to the average estimate in a survey of 11 analysts on Monday.
Estimates for good-to-excellent ratings ranged from 67% to 70%.
For soybeans, analysts on average predicted the USDA would rate 68% as good to excellent, unchanged from a week earlier. Estimates ranged from 66% to 70% good-to-excellent. Analysts expected the government to report soybean planting as 98% complete, up from 94% a week ago.
The government was scheduled to publish its report on Monday at 3 p.m. CDT (2000 GMT).
For spring wheat, analysts on average expected the USDA to rate 60% of the crop as good to excellent, up 1 point from the previous week.
The U.S. harvest of winter wheat was seen as 40% complete, up from 25% by June 19, with estimates ranging from 35% to 45% complete. Winter wheat condition ratings were seen improving, with 31% of the crop rated good to excellent, up 1 point from the previous week.
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All figures in percent:
Category
Analyst average
Analyst range
USDA last week
Corn condition*
69
67-70
70
Soybeans condition*
68
66-70
68
Soybeans planted (percent)
98
97-98
94
Spring wheat condition*
60
57-61
59
Winter wheat harvested (percent)
40
35-45
25
Winter wheat condition*
31
30-32
30
*Percent good/excellent
(Reporting by Julie Ingwersen; Editing by Jan Harvey)
((Julie.ingwersen@thomsonreuters.com; 1-313-484-5283; Reuters Messaging: julie.ingwersen.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Source: Nasdaq
