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.

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

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