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USDA: U.S. corn crop 2% planted

Agriculture.com Staff 04/14/2008 @ 2:12pm

USDA on Monday estimated the U.S. corn crop is 2% planted, the low end of what traders expected.

As of Sunday, USDA estimates corn plantings at 2%, below 4% a year ago, and a 6% five-year average.

Prior to the report, traders expected corn planting to be 3% completed.

USDA rated winter wheat conditions at 8% excellent, and 39% good vs. last week's 45% good/excellent rating.

For wheat, trade expectations for this week's wheat good/excellent rating was set for an increase of 1-2%. USDA estimated that 4% of the winter wheat is headed vs. 9% a year ago.

On Monday, USDA estimated spring wheat plantings at 8% complete vs. 5% a week ago and a 12% five-year average.

Traders expected spring wheat planting to be between 10-15% complete, up from 5% a week ago.

For cotton, USDA estimated U.S. cotton acres 10% planted vs. 7% a week ago.

USDA on Monday estimated the U.S. corn crop is 2% planted, the low end of what traders expected.

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