World Ag Markets Stay Quiet

CHICAGO - October 3/06 - SNS -- International agricultural commodity markets remain relatively quiet, though the confirmation of U.S. wheat sales to Iraq was welcome news against forecasts Australia could see some beneficial rains in the coming days.

In its weekly crop conditions report, the USDA said corn crops in the U.S. are rated 61% rated good to excellent, unchanged from last week. The percentage rated poor or very poor was 15%, compared to 16% last week and 19% last year.

Soybean crops in the U.S. are rated 62% good to excellent, unchanged from last week and compared to 56% last year.

Soybean harvest progress as of October 1st stood at 19% complete compared to 9% last week and 33% last year. Traders were looking for 20-24% complete.

Corn harvest progress as of October 1st stood at 20% complete as compared to 13% last week and 25% last year. Traders were looking for 22-25% of the crop to be shown as harvested. The 16-year average is 20%.

The USDA reports winter wheat planting progress as of October 1st stood at 54% complete compared to 36% last week and 53% last year. The 16 year average planting progress for this time of year is 53%.

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