POLL-U.S. wheat ratings seen improving; corn planting seen 5% complete
The U.S. Department of Agriculture’s (USDA) weekly crop progress report should rate 33% of the U.S. winter wheat crop in good to excellent condition, according to the average estimate in a survey of 12 analysts on Monday, up 1 percentage point from last week but still among the poorest ratings on record for this time of year.
Trade estimates for the week ended April 17 ranged from 29% to 36% good to excellent. The government is scheduled to publish its report at 3 p.m. CDT (2000 GMT).
Last week, the USDA rated 32% of U.S. winter wheat in good to excellent condition, the lowest for the 14th week of the calendar year since 2018. Approximately 69% of the U.S. winter wheat crop is in an area experiencing drought, the government said.
Winter wheat ratings for Week 15 have been 33% or lower only three times in USDA records dating to the late 1980s.
For corn, analysts on average expected the USDA to report U.S. planting progress as 5% complete by April 17, up from 2% a week earlier. Estimates ranged from 3% to 6% complete.
Analysts also expected the USDA’s report to show that soybean planting was 2% complete. The soy planting figure will be the USDA’s first for 2022.
Spring wheat planting progress was seen as 9% complete, with estimates ranging from 7% to 12%.
All figures in percent:
USDA last week
Corn planted (percent)
Soybeans planted (percent)
Spring wheat planted (percent)
Winter wheat conditions*
Source: Reuters (Reporting by Julie Ingwersen; Editing by Mark Porter)