U.S. corn plantings seen 94 percent complete, soy at 70 percent: poll

Source: By Reuters • Posted: Thursday, June 2, 2016

A corn field is seen in DeWitt, Iowa in this July 12, 2012 file photo. REUTERS/Adrees Latif/Files

The U.S. Department of Agriculture’s weekly crop progress report is expected to show U.S. corn planting as 94 percent complete and soybean planting 70 percent complete as of May 29, according to the average of estimates from 11 analysts polled by Reuters.

Corn planting estimates ranged from 91 percent to 96 percent and soybean planting estimates were from 67 percent to 76 percent.

The corn crop was 86 percent planted by May 22, the USDA said in its last report. Soybean planting was 56 percent complete at that time.

The USDA planned to release its first condition ratings for the corn crop. Analysts expected the government to show 71 percent of the crop as good to excellent, with estimates ranging from 65 percent to 73 percent as good to excellent.

The government is scheduled to release its next update at 3 p.m. CDT (4.00 p.m. ET) on Tuesday, a day later than normal due to the U.S. Memorial Day holiday on Monday.

Analysts also expected the USDA to report that good-to-excellent ratings for winter wheat held steady at 62 percent, with trade estimates ranging from 61 percent to 63 percent good to excellent.

U.S. spring wheat sowings were estimated at 98 percent complete, compared with 95 percent in the previous week. Analysts expected the government to show 76 percent of the spring wheat crop as good to excellent, unchanged from the previous week.

All figures below in percent:

Category Average Range Prior week

Corn planted 94 91-96 86

Corn condition* 71 65-73 n/a

Soybeans planted 70 67-76 56

Spring wheat planted 98 98-99 95

Spring wheat condition* 76 75-76 76

Winter wheat condition* 62 61-63 62

*Percent good/excellent

(Reporting by Julie Ingwersen; Editing by Jeffrey Benkoe)