US winter wheat rating tops expectations, highest in 5 years
Recasts with release of USDA data
By Karl Plume
CHICAGO, Nov 18 (Reuters) -U.S. winter wheat crop conditions improved more than expected overthe past week following much-needed rain in the Plains farm belt, according to a weekly crop condition report from theU.S. Department of Agriculture (USDA) on Monday.
The USDA said 49% of the winter wheat crop was in good-to-excellent condition as of Sunday, up from 44% the previous week and the strongest rating for this time of year in five years, government data showed.
The improving prospects for the recently planted crop may soothe concerns about the harvest potential in the world's No. 5 exporter of the staple food grain.
The crop's good-to-excellent rating was above the average forecast of 46% in a Reuters survey of 10 analysts. Estimates ranged from 43% to 49% good-to-excellent.
U.S. wheat farmers have finished planting 94% of their intended winter wheat acres, the USDA said. That was slightly below the three-year average of 96% complete and just below the average analyst estimate for seeding to be 95% finished.
Rain and snow over the past two weeks haverecharged soil moisture in many areas of the Plains, where widespread drought had clouded crop prospects earlier in the planting season.
Just 43% of U.S. winter wheat production area remained under moderate drought or worse as of Nov. 12, down from 62% two weeks earlier, according to the latest data from the USDA and the National Drought Mitigation Center.
All figures in percent:
Category | Analyst average | Analyst range | USDA last week | USDA this week |
Winter wheat planted (%) | 95 | 94-96 | 91 | 94 |
Winter wheat condition ratings* | 46 | 43-49 | 44 | 49 |
*% good/excellent |
Reporting by Karl Plume; editing by David Evans and Marguerita Choy
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