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US corn, soybean condition ratings seen unchanged in week

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 eight 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 74 percent good to excellent and soybean ratings at 73 percent good to excellent, unchanged from a week earlier, according to the average of analyst estimates.

Analysts on average expected the USDA to report the US corn crop as 11 percent harvested, up from 5 percent last week. Estimates ranged from 9 to 14 percent.

Analysts also expected the USDA's first estimate of the US 2016 soybean harvest to show progress at 4 percent complete, with estimates ranging from 2 to 7 percent.

Planting of the 2017 US winter wheat crop was estimated at 15 percent complete, up from 6 percent the previous week. Analysts expected the USDA to show the spring wheat harvest as nearly finished.

Copyright Reuters, 2016

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