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Dryness Stresses U.S. Corn, Soy

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U.S. corn condition ratings declined more than expected last week while the soybean crop also deteriorated as dry weather in the U.S. Midwest stressed the crops as they near maturity. Last Monday the USDA rated the corn crop at 57 per cent good to excellent, down three percentage points from the previous week and down 13 points from a year ago. The soybean crop was rated 59 per cent good to excellent, down two percentage points from the previous reporting period. “All districts had belowaverage rainfall this week, with many farmers reporting that the dry weather is taking a toll on crop conditions,” USDA said in a report.

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