USDA Says Crop Progress in Line with Long Term Averages

USDA Says Crop Progress in Line with Long Term Averages

Tim Hammerich
Tim Hammerich
News Reporter
Here with your Market Line Commodity Report, I’m Tim Hammerich.

USDA came with with a good crop rating yesterday. Standard Grain’s Joe Vaclavik has details.

Vaclavik… “USDA did release its crop progress report yesterday. The U.S corn crop is 88% planted versus 80% last week and 82% on average. We've got a few states trailing their respective five-year averages: North Dakota, Pennsylvania, Kentucky, and Tennessee. The crop is now 64% emerged, up from 43% last week and 58% on average. In their initial crop rating, the U.S. Corn crop was rated 70% good to excellent. That's a very good rating. It's pretty much in line with its five-year average though. So we're obviously ahead of where we were last year, but in terms of longer term averages, that's not anything that's out of line with, with a historical norms.”

Chicago July Wheat futures yesterday closed down $0.02 ¼ to $5.04 ½.

Kansas City Hard Red Winter Wheat up $0.04 ½ to $4.51 ½.

July Corn closed up a penny and a half to $3.20 ½.

Portland prices for soft white wheat of ordinary protein unchanged on the day ranging from $6.00 to $6.05.

Club Wheat of Ordinary Protein also unchanged $6.05 to $7.75.

Dark Northern Spring wheat prices down $0.04 ½ ranging from $6.18 ¼ to $6.73 ¼ for 14% protein.

Live Cattle futures crossed the $100 mark. Up $1.40 on the June board to $100.80. Feeder Cattle for August up $0.72 ½ to $134.02 ½.

Class III milk yesterday up $0.41 to $17.93.

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