USDA: U.S. soybean good-to-excellent rate fell 2%, beating analyst expectations

Washington, July 26 News: The U.S. Department of Agriculture’s weekly national crop progress report showed that the good-to-excellent rate of U.S. soybeans decreased by 2 percentage points from a week ago, exceeding market expectations for a decline.

In the 18 states that account for 96% of the country’s soybean planting area, as of July 24 (Sunday), the US soybean bloom rate was 64%, 48% last week, 74% last year, and a five-year average of 69%.

The soybean pod setting rate was 26%, 14% last week, 39% last year, and the five-year average was 34%.

The soybean good-to-excellent rate was 59%, 61% last week, and 58% in the same period last year. Analysts on average expected a good-to-good rate of 60%.

This week, the ratio of soybean ratings was 10% excellent, 49% good, 30% fair, 8% poor, and 3% bad; last week was 10% good, 51% good, 29% fair, 7% bad, and 3% bad; last year In the same period, it was excellent by 11%, good by 47%, average by 30%, poor by 9%, and poor by 3%.

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