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Holiday Shortened Trading Week
CHICAGO - Jul 3/07 - SNS -- International agricultural commodity markets maintained a relatively quiet tone in a holiday shortened trading week. While Canadian traders are back from their long weekend, their counterparts in the United States are beginning their's
The USDA's weekly crop conditions report showed spring wheat was rated 79% good to excellent, unchanged from last week and compares to 52% last year. This year's winter wheat harvest is now 40% complete compared to 22% last week. 62% last year and the recent average of 53% in the bin by the beginning of July.
U.S. corn crops are rated 73% good to excellent, unchanged on the week, compared to 68% last year and the recent average of 70%. Conditions were best in 1987, when 84% was rated good to excellent, while the worst year was 1988, when just 23% were rated good to excellent.
Soybeans are rated 68% good to excellent, up from 66% last week, 64% last year, and the recent 1-year average of 64%.
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