The U.S. Department of Agriculture yesterday released its weekly US Weekly Crop Progress Report. As of April 26, 54% of the U.S. winter wheat inventory is in good or excellent condition. The share was 57% in the previous week and 64% a year ago at the same time. On average, analysts expected ratings to remain unchanged from the previous week. The range of expectations ranged from 53% - 60%.
Summer wheat sowing in the United States is complete on 14% of the proposed area. It was 7% the previous week and 29% on a 5-year average. Analysts had expected average sowing progress of 18% (range: 16% - 23%).
Corn was sown on 27% of the proposed area in the United States as of April 26 (previous week: 7%). The average expectation of the analysts was only 22% (range: 18% - 27%).
Soybean sowing is completed on 8% of the planned area. This corresponded exactly to the average expectation of the previously interviewed analysts (range: 4% - 12). The previous week it was 2%.
Source
Hansa Terminhandel GmbH
