Wheat futures jumped after USDA data showed worsening U.S. winter wheat conditions—only 50% rated good/excellent, down from 52% last week. Oklahoma saw a 10-point drop, while Kansas dipped slightly. Three-fourths of winter wheat has headed. Corn conditions debuted at 68% good/excellent, down from 75% last June. Corn planting reached 87%, with 67% emerged. Soybeans were 76% planted, ahead of average. Wheat, corn, and soy futures moved modestly overnight, with wheat up 5¢ to $5.33½/bushel and corn up 2½¢.
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