U.S. corn and soy ratings slip 2 pts, worst since 1988 |
| Reuters - Jul 30, 2012 |
Corn and soybean conditions deteriorated further last week as the most expansive drought in more than 50 years ate away at crop prospects in the U.S. Midwest, trimming the production outlook, analysts said on Monday.
The U.S. Department of Agriculture rated 24 percent of the U.S. corn crop in good-to-excellent condition as of Sunday and 29 percent of the soybean crop in good-to-excellent shape, both down 2 percentage points from the previous week.
The ratings for each were the worst since the comparable week in 1988, another year of severe drought in the nation's crop-growing mid-section.
A Reuters poll of 10 analysts had expected a 3 percentage point drop in the corn rating and a 2 point drop in soybeans.
Read Full Article from Reuters
- Posted: 2012-07-30 17:56:18
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