Winter wheat harvest progress in the US twice as high as last year's
As of June 21, winter wheat harvest in the US was 29% completed. In 2019, agriproducers covered 13% of the areas. The 5-year average indicator stands at 26%. 96% of winter wheat crops have come into ear (2019: 93% and 97% average within the last five years), the USDA report data show.
Corn crops condition on the reporting date:
- excellent — 15% of plantings (8% in the comparative period of 2019);
- good — 57% (48%);
- fair — 23% (32%);
- poor — 4% (9%);
- very poor — 1% (3%).
As of the reporting date, soybean was sown on 96% of areas, which is 13 and 3 pp more from the respective period of the previous year and the average for the previous 5 years.
Wheat fell again in Chicago on Friday, June 19, with prices at their lowest level since last September, in a context of harvest pressure and a lack of competitiveness of American origins on the international scene.
The Ministry for Development of Economy, Trade and Agriculture of Ukraine is estimating the grain harvest 2020 at over 68 mln t vs. the previously announced forecast of 65-68 mln t.
The Memorandum of Understanding between the Ministry of the Development of Economy, Trade and Agriculture of Ukraine and grain market participants will be signed on July 1 to ensure the projected grain export volume in the 2020/21 season.