U.S. Corn, soybean estimates steady last week, USDA says

Weekly status estimates for crops Corn And soy from America He said it had been stable for the past week US Department of Agriculture (USDA) On Tuesday, Bucking analysts forecast a decline as drought hit parts of the western Midwest.

In its Crop Progress Report, the USDA said 54% of the U.S. corn crop and 57% of the soybean crop were in good to excellent condition, unchanged from the previous week.

Nine analysts polled by Reuters, on average, expected corn and soybean estimates to fall 1 percent.

Corn and soybeans are still growing ahead of the nation’s fall harvest.

The USDA said Tuesday that 15% of the U.S. corn crop was mature as of Sunday, below the five-year average of 18%.

The government expects to release the first harvest progress estimate for the 2022 corn crop in a report next week.

for that Wheat In the spring, the USDA said harvest was 71% complete, above the average analyst estimate of 67% but below the five-year average of 83%.

Sowing of the 2023 winter wheat crop is underway.

The USDA said the U.S. winter wheat planting was 3% complete on Sunday, matching the five-year average but below analysts’ average estimate of 4%.

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