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USDA pushes corn rating higher than trade estimates

USDA Monday rated the U.S. corn crop slightly better than analysts expected, and equal to a week ago.

USDA, in its weekly Crop Progress report, indicated 97% of the corn crop is planted, above 96% a year ago, and a 93% five-year average. Also, the USDA rated the corn crop 4% poor-very poor, 18% fair, and 78% good/excellent, above analysts estimates of 75-77%.

In addition, USDA indicated 85% of the corn crop has emerged, above 82% from a year ago.

For soybeans, 80% of the crop is planted, above 75% a year ago, and a 67% five-year average. Also, 48% of the crop is emerged, sharply ahead of 38% from a year ago.

USDA rated the winter wheat crop as 57% good/excellent, 26% fair, and 17% very poor-poor. The crop is 80% headed.

For spring wheat, USDA rated the crop as 79% good/excellent, 17% fair, and 4% very poor-poor. Also, 89% of the crop has emerged.

USDA Monday rated the U.S. corn crop slightly better than analysts expected, and equal to a week ago.

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