US wheat ratings stay at four-year high, corn plantings behind average
Adds details on wheat ratings and plantings of corn and soybeans in paragraphs 3-9
By Julie Ingwersen and Tom Polansek
CHICAGO, May 13 (Reuters) -The U.S. Department of Agriculture on Monday said half of the nation'swinter wheat crop was ingood-to-excellent condition, the highest for this time of year since 2020, while corn planting progress was behind average.
Traders were monitoring crop conditionsin the world's No. 5 wheat exporter as Chicago Board of Trade wheat futures Wv1 reached a 10-month high on concerns overfrost and drought damage to farms in top exporter Russia. GRA/
The U.S. Department of Agriculture kept its good-excellent rating for U.S. winter wheat steady from last week at 50%, up from 29% a year earlier when drought slashed harvests. Analysts expected an increase to 51%.
This week, scouts on an annual crop tour in Kansas will assess hundreds of wheat fields. As of May 7, some 28% of U.S. winter wheat was in an area experiencing drought, down from 48% a year earlier, according to government data.
The USDA said U.S. corn plantings were 49% complete as of Sunday, below the five-year average of 54%. That was in line with analysts' expectations. The crop was 23% emerged, above the average of 21%, the USDA said.
The USDA projects farmers will harvest the fourth-largest corn crop and second-biggest soybean crop this year, with record yields expected for both. Extensive delays from poor weather could prevent planting or prompt farmers to switch from one crop to another.
"Planters continue to be parked across much of the state," said Mike Naig, Iowa's agriculture secretary. "It’s certainly weighing on the minds of farmers."
U.S. soybeans were 35% planted, compared to the five-year average of 34% and analysts' estimates for 39%.
For the U.S. spring wheat crop, planting was 61% complete, ahead of the 48% average, the USDA said. Analysts expected 63%.
All figures in percent:
Category | Analyst average | Analyst range | USDA this week | USDA last week |
Corn planted (percent) | 49 | 44-53 | 49 | 36 |
Soybeans planted (percent) | 39 | 33-46 | 35 | 25 |
Spring wheat planted (percent) | 63 | 58-73 | 61 | 47 |
Winter wheat conditions* | 51 | 48-52 | 50 | 50 |
*Percent good/excellent |
Reporting by Julie Ingwersen and Tom Polansek; Editing by Will Dunham and David Gregorio
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