Warm and humid conditions across the US Midwest boosted corn and soyabean plant development the past week and will prompt the government to report high crop ratings in its weekly crop report, analysts said on Monday. Analysts polled by Reuters on average forecast the US Department of Agriculture will rate 76 percent of the corn crop as good to excellent as of Sunday, above the five-year average of 68 percent by early June and on par with last week's high ratings. The range of trade estimates was 75 to 78 percent good to excellent.
Most analysts expect USDA will report soyabean condition ratings for the first time this year it is weekly crop progress report, released at 4 pm EDT (2000 GMT). The average estimate for soyabean crop ratings was 72 percent good to excellent, versus the seasonal average of 66 percent by early June. Soya estimates ranged from 70 to 74 percent good to excellent. Weather conditions also helped farmers finish up the tail end of their soyabean planting, analysts said. On average, they estimated soyabean planting 88 complete, compared to 78 percent a week ago and the typical pace of 83 percent by early June.
Last week was USDA's final corn planting update for the 2014 crop season, the agency said. Spring winter wheat sowing was seen coming to an end as well as planting weather improved in the northern Plains. Analysts expect USDA to report that 92 percent of spring wheat crop was seeded as of Sunday, up from 88 percent a week ago and near the typical pace of 93 percent for this time of year. Additionally, analysts on average expect USDA to report winter wheat harvest 8 percent done.
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