CHICAGO: The US Department of Agriculture (USDA) is expected to rate 57pc of the US corn crop in good to excellent condition in its weekly crop progress report, up 1 percentage point from a week ago, according to an average of estimates by 11 analysts surveyed by Reuters on Monday.
Analysts predicted the USDA would rate 56pc of the US soybean crop as good to excellent, up from 54pc a week earlier. Estimates ranged from 54pc to 58pc good to excellent.
Analysts on average expected the government to show that farmers were able to plant 93pc of the US soybean crop as of Sunday, up from 85pc as of June 23 but behind the five-year average that analysts put at 99pc.
Planting of the US corn crop is virtually complete, with progress reaching 96pc by June 23.
The USDA is scheduled to release its report at 3 p.m. CDT (2000 GMT) on Monday.
For wheat, analysts, on average, expected the USDA to rate 75pc of the US spring wheat crop as good to excellent, unchanged following declines in each of the previous three weekly reports.
For winter wheat, analysts expected the USDA to show the harvest as 30pc complete, up from 15pc a week ago.
Analysts forecast, on average, that the USDA would rate 61pc of the winter wheat crop in good to excellent condition, steady with the previous week.
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