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US corn, soy, spring wheat ratings seen improving

CHICAGO: The US Department of Agriculture’s weekly crop progress report is likely to show modestly higher condition ratings for US corn, soybean and spring wheat, according to an average of estimates by nine analysts polled by Reuters on Monday.

The report should show 68 percent of the US corn crop rated in good to excellent condition, up 1 percentage point from a week ago, after beneficial showers last week in most of the Midwest.

For soybeans, the analysts’ average estimate was also 68 percent good to excellent, up from 66 percent the previous week.

For spring wheat, the average estimate was 47 percent good to excellent, up from 45 percent a week ago but still far below the average of 71 percent to 72 percent for the prior five years. Estimates fell in a relatively wide range, from 43 percent to 50 percent.

The government was scheduled to release its next weekly update at 3 p.m. CDT (2000 GMT) on Monday.

The US winter wheat harvest was seen as 31 percent complete, up from 17 percent a week ago.

Copyright Reuters, 2017

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