|The USDA crop progress highlighted the continued good pace of winter wheat planting, reaching 47% complete, and in line with the long-term average. Unlike the continued lagging pace of Russian winter sowing. Reaching 12Mha, planting continues to lag behind the 2020 pace by close to 1.5Mha.
US corn development continues to progress ahead of average, 88% of US corn reaching maturity, 11 percentage points ahead of average. Harvest too is accelerating and ahead of average, reaching 29% complete, ahead of last year and 7 percentage points ahead of average.
With the US corn harvest ahead of average, and adding to available supply, corn markets have been under pressure.
Like with corn, soybeans have also been under pressure as the US harvest continues to progress ahead of average, reaching 34% complete, well ahead of the 26%, 5-year average.
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