USDA Says Crop Progress in Line with Long Term Averages
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.