USDA winter wheat ratings hit four year low amid drought
The USDA rated 28 percent of winter wheat as good to excellent marking a four year low. Corn and soybean planting reached 57 and 49 percent ahead of averages.
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The United States Department of Agriculture rated 28% of the winter wheat crop in good-to-excellent condition on May 11. This 3-point weekly decline marks the lowest rating for this period since 2022. The data signals potential supply tightening as drought conditions impact the primary American growing regions.
### Drought Erodes Winter Wheat Prospects The USDA rating missed trade expectations for a 1-point improvement. Analysts surveyed by Reuters anticipated a 32% good-to-excellent rating, with estimates ranging from 30% to 34%.
