US corn rating improved to good/excellent: USDA

As of May 30, corn planting in the U.S. was 95% completed, 8% above the five-year average (2016-20), the USDA report data show.

81% of corn has emerged (76% in 2020, 70% in the 5-year average). Corn crops condition on the reporting date:

• excellent: 14% (2020: 13%)
• good: 62% (2020: 61%)
• fair: 20% (2020: 22%)
• poor: 3% (2020: 3%)

"U.S. corn is rated at 76% good/excellent as of Sunday, above the trade expectation of 70%. It was 74% in the same week last year and 79% in the same week in 2018," Global Agriculture Columnist at Thomson Reuters Karen Braun writes on Twitter.

In the USDA Crop Progress Report, U.S. farmers planted 84% of soybean area, 10% more YoY and 17% above the 5-year average. Soybeans were 62% planted, 20% more than the 5-year average (2016-20).

The third-largest corn producer, Brazil, will suffer the worst drought in 91 years.

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