By Julie Inverson
CHICAGO (Reuters) – U.S. The U.S. Department of Agriculture (USDA) estimated 64% of the U.S. corn crop is in good to excellent condition, a week earlier and higher than the average estimate seen in the U.S. survey. Reuters.
Twelve analysts polled by Reuters, on average, expected corn’s rating to decline by 63%.
In a report released Monday, the USDA rated 61% of the soybean crop as excellent, up from 62% the previous week. Analysts, on average, expect no change.
Most of the U.S. corn crop completes its main pollination phase in July, while August is the most important month for the nation’s soybean growth. Stressful drought weather during these periods can reduce harvest opportunities.
Condition estimates for U.S. spring wheat grown in the Northern Plains have improved. The USDA rated 71% of the crop as good and excellent, up from 70% the previous week. Analysts, on average, expect no change.
The US winter wheat harvest rose 70% on July 17, below the five-year average of 71% and behind the average analyst estimate of 75%.
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