Markets Remain Relatively Busy

CHICAGO - Sep 6/06 - SNS -- International agriculture commodity markets were relatively busy at mid-week, though North American markets remain focussed on the evolving weather situation and looking forward to next Tuesday's Canadian stocks in all positions report and an updated USDA crop report.

Weather patterns in the United States are seen as both good for developing crops with a warmer and drier pattern for a few days; while rain in Kansas and the southern plains is seen as helpful for winter wheat planting.

The USDA's weekly crop conditions corn showed 59% of the corn crop was rated good to excellent compared to 57% last week and 51% last year. The percentage of the crop rated poor or very poor was 16%, down from 18% last week and 23% last year.

The USDA reports 59% of the soybean crop is rated good to excellent, unchanged from last week and up from 54% last year. The percentage of the crop rated poor or very poor in unchanged at 14%, down from 17% last year.

The USDA says the spring wheat harvest is now 97% complete. Winter wheat plantings will begin soon. The proportion of land in Kansas where topsoil moisture is rated short to very short declined 4 points on the week to 35%.

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