CHICAGO (Reuters) - The U.S. Department of Agriculture’s (USDA) weekly crop progress report should show that farmers were able to plant 63% of their intended corn acres as of Sunday, according to the average estimate in a survey of 14 analysts on Tuesday.
Trade estimates for the week ended May 26 ranged from 59% to 68%. The government was scheduled to publish its report at 3 p.m. CDT (2000 GMT), a day later than normal due to Monday’s federal holiday.
Wet weather has slowed planting this spring. Analysts calculated the five-year average of corn planting progress for this point in the year at 90%. Planting was 49% complete by May 19.
Analysts expected the USDA on Tuesday to report that soybean planting was 31% complete, with estimates ranging from 24% to 39%. Analysts put the five-year average for soybean planting progress at 66%.
For wheat, analysts forecast, on average, that the USDA would rate 65% of the winter wheat crop in good to excellent condition, down from 66% the previous week. Estimates for wheat ratings ranged from 64% to 66% good to excellent.
Spring wheat planting progress was seen as 83% complete, with estimates ranging from 80% to 88%. Analysts pegged the five-year average at 91%.
Reporting by Julie Ingwersen; Editing by Susan Thomas