The US Department of Agriculture released the weekly update of the Crop Progress Report last night.
It shows that the condition of US winter wheat stocks has again improved somewhat. 36% of the stocks received the top rating "good to excellent" (previous week: 34%). On average, analysts expected unchanged ratings. The range of analyst estimates was between 33% and 36%. The proportion of holdings rated "weak to very weak" dropped by 1% from 37% to 36%.
It shows that the condition of US winter wheat stocks has again improved somewhat. 36% of the stocks received the top rating "good to excellent" (previous week: 34%). On average, analysts expected unchanged ratings. The range of analyst estimates was between 33% and 36%. The proportion of holdings rated "weak to very weak" dropped by 1% from 37% to 36%.
The summer wheat sowing is completed on May 6 on 58% of the land (previous week: 30%, previous year: 75% and 5-year average: 67%). Analysts expected the progress of summer wheat sowning in a range of 43-82% and on average 52%.
Corn is placed on 62% of planned land. In the previous week it was 39%, in the previous year 68% and in the 5-year average 63%. The analysts' expectations averaged 59% (range: 51-63%).
Soybeans accounted for 35% of planned space versus 15% in the previous week, 29% in the previous year and 26% in the 5-year average.Analysts expected an average of 30% (range: 26-33%).
