USDA: Corn Goodness Rate Slips, in Line With Market Expectations

WASHINGTON, June 21: The U.S. Department of Agriculture released its weekly national crop progress report showing that U.S. corn (2817, -17.00, -0.60%) planting is all but complete, with good rates slipping, in line with market expectations.

In the 18 states, which account for 92% of the nation's corn sown, US corn emergence was 95% as of Sunday 19 June, compared to 88% a week earlier, 99% a year ago and the five-year average of 95%. Corn excellence was 70%, compared to 72% a week ago and 65% a year ago. Of this, 13% was excellent, 57% good, 24% fair, 5% poor and 1% poor. Last week it was 13% excellent, 59% good, 23% fair, 4% poor and 1% poor. Prior to the report, analysts were expecting a 70 per cent good corn rate.