USDA: U.S. soybean planting progress is 88%, and the excellent and good rate is in line with expectations

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Washington, June 14 News: The U.S. Department of Agriculture’s weekly national crop progress report released after the market on Monday showed that the soybean planting progress in the United States has tied the historical average progress, and the soybean excellent and good rate released for the first time is in line with expectations.

In the 18 states that account for 96% of the country’s soybean planting area, as of June 12 (Sunday), the US soybean planting progress was 88%, 78% last week, 93% last year, and the five-year average for the same period was 88%.

Before the report, analysts expected soybean planting to be 90 percent complete.

As of Sunday, the emergence rate was 79%, 56% last week, 85% last year, and the five-year average was 74%.

The 2022 U.S. soybean rate, first released this week, is 70 percent good to good, compared with 62 percent a year earlier. Before the report, analysts expected an excellent rate of 70%.

The ratio of soybean ratings this week was 11% excellent, 59% good, 25% fair, 4% poor, and 1% bad. In the same period last year, the rating was excellent by 9%, good by 53%, fair by 30%, poor by 6%, and bad by 2%.