Investing.com - U.S. grain futures edged higher on Thursday, as market players readjusted positions ahead of the U.S. Department of Agriculture’s updated crop acreage report due on Friday to further gauge U.S. crop prospects.
On the Chicago Mercantile Exchange, wheat for September delivery traded at USD6.8250 a bushel, up 0.75% on the day. The September contract traded in a range between USD6.7613 a bushel, the session low and a daily high of USD6.8250 a bushel.
The USDA said that approximately 20% of the U.S. winter wheat crop was harvested as of last week, compared to the five-year average of 37% for this time of year and below the 63% recorded in the same week a year earlier.
Nearly 43% of the U.S. winter wheat crop was rated in ‘very poor’ to ‘poor’ condition as of last week, unchanged from the preceding week.
The data also showed that 96% of the spring-wheat crop was planted as of last week. Nearly 100% of the spring crop was planted in the same week a year earlier while the five-year average for this time of year is 99%.
Meanwhile, soybeans futures for August delivery traded at USD14.2925 a bushel, up 0.25% on the day. The August contract held in a range between USD14.2150 a bushel, the daily low and a session high of USD14.2963 a bushel.
The USDA said that 92% of the U.S. soy crop was planted as of last week, below the 99% planted in the same week a year earlier. The five-year average for this time of year is 95%.
The agency also said that 81% of the U.S. soybean crop emerged as of last week, compared to the five-year average of 89% and below the 98% recorded in the same week a year earlier.
Elsewhere on the CBOT, corn futures for September delivery traded at USD5.7475 a bushel, up 0.2% on the day. The September contract traded in a range between USD5.7163 a bushel, the session low and a daily high of USD5.7488 a bushel.
According to the USDA, 96% of the U.S. corn crop was collected as of last week, below the five-year average of 99% for this time of year. 100% of the corn crop was collected during the same week a year earlier.
Nearly 65% of the U.S. corn crop was rated in ‘good’ to ‘excellent’ condition as of last week, up from 64% in the preceding week.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.
On the Chicago Mercantile Exchange, wheat for September delivery traded at USD6.8250 a bushel, up 0.75% on the day. The September contract traded in a range between USD6.7613 a bushel, the session low and a daily high of USD6.8250 a bushel.
The USDA said that approximately 20% of the U.S. winter wheat crop was harvested as of last week, compared to the five-year average of 37% for this time of year and below the 63% recorded in the same week a year earlier.
Nearly 43% of the U.S. winter wheat crop was rated in ‘very poor’ to ‘poor’ condition as of last week, unchanged from the preceding week.
The data also showed that 96% of the spring-wheat crop was planted as of last week. Nearly 100% of the spring crop was planted in the same week a year earlier while the five-year average for this time of year is 99%.
Meanwhile, soybeans futures for August delivery traded at USD14.2925 a bushel, up 0.25% on the day. The August contract held in a range between USD14.2150 a bushel, the daily low and a session high of USD14.2963 a bushel.
The USDA said that 92% of the U.S. soy crop was planted as of last week, below the 99% planted in the same week a year earlier. The five-year average for this time of year is 95%.
The agency also said that 81% of the U.S. soybean crop emerged as of last week, compared to the five-year average of 89% and below the 98% recorded in the same week a year earlier.
Elsewhere on the CBOT, corn futures for September delivery traded at USD5.7475 a bushel, up 0.2% on the day. The September contract traded in a range between USD5.7163 a bushel, the session low and a daily high of USD5.7488 a bushel.
According to the USDA, 96% of the U.S. corn crop was collected as of last week, below the five-year average of 99% for this time of year. 100% of the corn crop was collected during the same week a year earlier.
Nearly 65% of the U.S. corn crop was rated in ‘good’ to ‘excellent’ condition as of last week, up from 64% in the preceding week.
Corn is the biggest U.S. crop, followed by soybeans, government figures show. Wheat was fourth, behind hay.