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U.S. crop report shows slightly weaker corn, soybean crops

Agriculture.com Staff 07/17/2006 @ 2:15pm

USDA's weekly crop report shows slightly weaker conditions compared to a week ago, and worse than analysts expectations.

For corn, USDA rated the crop 62% good/excellent, slightly below a 63% rating a week ago. Also, 26% of the corn is rated fair and 12% very poor-poor. USDA reported 51% of the crop is in the silking stage, above a 46% a year ago. The crop is 6% in dough stage, equal to a year ago.

USDA, in its report, rated soybeans 57% good/excellent, one percentage point below a week ago. Analysts expected the crop condition to improve over a week ago. Also, 30% of the soybean crop is rated fair, and 13% very poor-poor. USDA estimated 60% of the soybeans in blooming stage, below 61% a year ago, but above a 48% five-year average.

For spring wheat, 34% good/excellent, 34% fair, and 32% very poor-poor. Also, 97% of the crop is headed, above 90% a year ago.

Meanwhile, USDA estimated the winter wheat harvest is 72% complete, above 68% a year ago.

For cotton, 40% of the crop is rated good/excellent, 31% very poor-poor, and 29% fair. Plus, 39% of the crop is setting bolls, above 34% a year ago. USDA reported 81% of the crop is in the squaring stage, equal to year ago.

USDA's weekly crop report shows slightly weaker conditions compared to a week ago, and worse than analysts expectations.

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