By Julie Ingwersen
CHICAGO, July 12 (Reuters) – The U.S. Division of Agriculture rated 65% of the U.S. corn crop in good-to-excellent situation in its weekly crop progress report on Monday, up 1 share level from the earlier week and consistent with analyst expectations following rains final week.
Soybean scores had been unchanged, with 59% of the U.S. crop rated good to glorious, whereas analysts on common had anticipated a 1-point enchancment.
“Widespread precipitation helped with stress on crops and forages,” the USDA stated in its weekly state report for Iowa, the highest U.S. producer of corn and the No. 2 soybean grower after Illinois.
Scores for the drought-hit U.S. spring wheat crop held regular, with 16% of the crop seen pretty much as good to glorious, consistent with commerce expectations. On the opposite finish of the scores scale, the USDA rated 55% of the spring wheat crop in poor to very poor situation, up from 50% the prior week.
The USDA in a separate report on Monday estimated U.S. 2021 spring wheat manufacturing at 345 million bushels, a drop of 41% from final 12 months’s harvest and the smallest crop since 1988.
For winter wheat, the USDA stated the harvest was 59% full by Sunday, up from 45% per week earlier however behind the typical analyst expectation of 60% and the five-year common of 65%.
All figures in %:
Class
Analyst common
Analyst vary
USDA final week
USDA this week
Corn situation*
65
63-67
64
65
Soybean situation*
60
57-62
59
59
Winter wheat harvested
60
56-66
45
59
Spring wheat situation*
16
14-19
16
16
*% good/glorious
(Reporting by Julie Ingwersen; modifying by Jonathan Oatis and David Gregorio)
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