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USDA crop report lowers wheat rating

On Monday, USDA reported the U.S. winter wheat crop condition has declined slightly compared to last week, while corn planting is above last year's pace.

For winter wheat, 32% was rated very poor-poor, 29% fair, and 39% good/excellent. Also, 9% was headed, compared to 6% a year ago and a 6% five year average. For spring wheat, USDA indicated 10% was planted, below a 21% year ago rating and a 16% five year average.

For corn, 9% has been planted, behind 13% at this time last year, and a 10% five year average.

For cotton, USDA indicated 13% of the crop is in the ground, versus 10% from a year ago, and an 11% average.

On Monday, USDA reported the U.S. winter wheat crop condition has declined slightly compared to last week, while corn planting is above last year's pace.

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