U.S. corn ratings seen lower on dry conditions; soy steady (RT)

CHICAGO, Aug 8 (Reuters) – The U.S. Department of Agriculture (USDA) will likely show decreased condition ratings for the U.S. corn crop, mostly due to seasonal factors and as some portions of the Midwestern growing region were suffering from dry conditions, a Reuters poll of 10 analysts showed on Monday.

Soybean crop ratings, on average, were expected to be unchanged while the spring wheat harvest likely advanced at a normal rate, the analysts said.

USDA in its weekly crop progress and conditions report due at 3 p.m. CDT (2000 GMT) is expected to estimate corn ratings at 75 percent good to excellent, down one percentage point from a week ago, according to analysts’ average estimates. US/CORUS/SOY

Soybean ratings were seen at 72 percent good to excellent, steady after posting a one-percentage-point rise in the previous week.

Crop conditions for corn typically decline at this time of year as the earliest-planted fields reach maturity. Condition ratings for both corn and soybeans are historically high, and it was rare for conditions to improve during some of the hottest days of the summer, the analysts said.

The spring wheat harvest was estimated at 28 percent complete, up from 10 percent last week. The harvest also was 28 percent finished during the same week in 2015. US/WHE

All figures below in percent: