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CHICAGO, Nov 28 (Reuters) – The U.S. Department of Agriculture’s last weekly U.S. crop progress report for 2022 should show a slight improvement in winter wheat condition ratings, according to the average of estimates from nine analysts surveyed by Reuters on Monday.
Analysts on average expected the USDA to rate 33% of the winter wheat crop in good to excellent condition, up 1 point from the previous week. Estimates ranged from 32% to 35% good-to-excellent.
The newly planted crop has struggled with dry conditions as 75% of the U.S. winter wheat production area was experiencing drought as of Nov. 22, according to the government. But rains in portions of the southern Plains wheat belt in the last week may have benefited crops in those areas, analysts said.
The USDA was scheduled to release its report at 3 p.m. CST (2100 GMT) on Monday.
Planting of the winter wheat crop, which will be harvested in mid-2023, is virtually complete, with 96% seeded by Nov. 13. US/WHE
The U.S. corn and soybean harvests also wrapped up this month, and the USDA did not expect to release further updates after reporting the corn crop as 96% harvested by Nov. 20 and soybeans 96% harvested as of Nov. 13. US/CORUS/SOY
Over the winter the USDA’s National Agricultural Statistics Service releases monthly reports for select states. The government will resume weekly U.S. crop progress reports in April.
All figures in percent:
Category
Analyst average
Analyst range
USDA last week
Winter wheat conditions*
33
32-35
32
*Percent good/excellent
(Reporting by Julie Ingwersen Editing by Mark Heinrich)
((Julie.ingwersen@thomsonreuters.com; 1-313-484-5283; Reuters Messaging: julie.ingwersen.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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