U.S. crop condition estimates

WINNIPEG (MarketsFarm) – The Chicago-based Futures International (FI) issued its estimates for United States crop conditions this morning, along with the firm’s projections for export sales.

Ahead of the U.S. Department of Agriculture’s (USDA) weekly crop progress report, released on Mondays at 3 pm CDT, FI estimated corn conditions to be 59 percent to be in good to excellent condition. That would be one point up from the USDA’s previous report for the week ended Sept. 1. Also, FI’s projection would be nine points back of corn conditions this time last year and ten behind the five-average.

For soybeans, FI has called for conditions to be 56 percent good to excellent for an increase of one from the previous week, but 11 points behind the average. At this time in 2018, soybeans were 68 percent good to excellent.

Futures International projected the spring wheat harvest to made reached 69 percent complete, up from the USDA’s estimate of 55 percent last week. The FI prediction would be 23 points behind last year’s harvest pace and 18 off of the five-average.

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