The US Department of Agriculture released the Weekly Update of the Crop Progress Report last night.
As a result, the condition of US winter wheat stocks has changed little. As in the previous week, 36% of the stocks received the top rating "good to excellent". Analysts expected an average of 37%. The range of analyst estimates was between 36% and 40%. The share of stocks rated "weak to very weak" dropped by 1% from 36% to 35%.
The summer wheat sowing is completed on May 20 on 79% of the land (previous week: 58%, previous year: 88% and 5-year average: 80%). Analysts expected the progress of summer wheat sowing in a range of 72-90% and on average 77%.
Corn is placed on 81% of the planned areas. Last week it was 62%, in the previous year 82% and in the 5-year average 81%. The analysts' expectations averaged 80% (range: 75-86%).
Soybeans accounted for 56% of planned space versus 35% in the previous week, 50% in the previous year and 44% in the 5-year average.On average, analysts expected 54% (range: 52-56%).
