Wheat crops deteriorated in the US
Last week, the condition of winter and spring wheat crops deteriorated in the United States.
According to the National Agricultural Statistics Service under the USDA (NASS), the share of winter wheat crops in excellent and good condition decreased to 47% (49% a week earlier and 38% a year ago), and spring wheat – to 72% (74% and 60%).
As of June 9, winter wheat was harvested from 12% of the area. As of the same date last year, 7% of the crop was harvested, while the average for the last five years was 6%.
Corn and soybean planting is slower than market participants expected. As of June 9, 95% of the planned area was planted with corn (98% as of the same date last year and 95% on average over the past five years), and 87% with soybeans (95% and 84%).
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