US soybean and spring wheat crops deteriorate
Last week, the condition of soybean and spring wheat crops in the United States worsened, contrary to market participants’ expectations, the Zerno On-Line agency reports.
According to the National Agricultural Statistical Service of the U.S. Department of Agriculture (NASS), the share of soybean crops in good and excellent condition decreased from 70% to 68%, which is the same as last year on the same date.
The share of spring wheat crops in good and excellent condition also decreased by 2% over the week to 52%, which is much lower than last year’s 77%.
The condition of corn crops did not change over the week. The share of corn crops in good and excellent condition remains equal to 74%, which is 7% more than last year.
By July 20, the winter wheat harvest was completed on 73% of the area, which is 1% more than the average for the same date over the past five years.
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