U.S. corn, soy ratings decline slightly after hot weather

Crop ratings for U.S. corn and soybeans fell slightly after a heatwave hit the U.S. Midwest in the middle of June, analysts said on Tuesday.

The U.S. Department of Agriculture rated 70% of the corn crop as good-to-excellent in its weekly crop progress and conditions report, in line with the average estimates in a survey of 9 analysts. Ratings were down two percentage points from a week ago.

Soybean ratings also slipped two percentage points to 68%, while soybean planting advanced to 94% complete.

The report also showed good-to-excellent ratings for spring wheat of 59%, with planting 98% complete.
Source: Reuters (Reporting by Mark Weinraub; editing by Barbara Lewis and Deepa Babington)