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U.S. soy harvest 79% complete, corn 74% after wet week -USDA

The U.S. soybean harvest was 79% complete as of Sunday, the U.S. Department of Agriculture said in a weekly crop progress report on Monday, behind the five-year average of 81% and the average estimate in a Reuters analyst poll, also 81%.

The U.S. corn crop was 74% harvested, the USDA said, ahead of the five-year average of 66% but behind the average analyst expectation of 75%.

Wet weather stalled progress across much of the Midwest last week, including Iowa and Illinois, the top U.S. producers of corn and soybeans. Only 1.2 days last week were considered “suitable for fieldwork” in Illinois, down from 4.7 days the previous week, the USDA said.

“Several rounds of steady rain fell across much of Iowa, which improved drought conditions and helped recharge subsoil moisture but slowed harvest progress,” Mike Naig, Iowa’s agriculture secretary, said in a statement.

Winter wheat condition ratings declined, bucking most analysts’ expectations for an improvement. The USDA rated 45% of the 2022 winter wheat crop in good-to-excellent condition, down from 46% a week earlier. Analysts on average had expected the USDA to rate 48% of the crop as good to excellent, with estimates ranging from 45% to 54% good to excellent.

Winter wheat planting was 87% complete by Sunday, ahead of the five-year average of 86% but behind the average analyst expectation of 88%.
Source: Reuters (Reporting by Julie Ingwersen; Editing by Mark Porter and Marguerita Choy)

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