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US corn, soybean condition ratings seen unchanged

Published Updated

imageCHICAGO: The US Department of Agriculture will likely show no change in weekly condition ratings for corn and soybeans, according to a Reuters poll of 10 analysts on Monday.

The USDA in its weekly crop progress and conditions report due at 3 p.m. CDT (2000 GMT) is expected to show corn ratings at 75 percent good to excellent and soybeans at 72 percent good to excellent, according to the average of analyst estimates.

The spring wheat harvest was estimated at 80 percent complete, up from 65 percent last week.

The USDA last week said it expected on Monday to add its first tables for this season showing the percentage of corn considered mature and the percent of soybeans that are dropping leaves, one indication of soybean maturity.

The USDA should report about 13 percent of the corn crop as mature, according to the average of three analyst estimates, and 8 percent of the soybean crop dropping leaves, according to the average of five estimates.

Copyright Reuters, 2016

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