Yesterday, USDA reported that the condition of the U.S. corn crop continues to deteriorate. This is the fourth or the last five weeks that the ag agency has said that the condition of the crop has worsened compared with the previous week and previous year.
Yesterday, USDA reported 63% of the U.S. corn crop is in "good" or "excellent"? condition. This is below last week's 66% and last year's 70%. The condition of soybeans for this date also declined with 56% in "good" or "excellent" condition vs. 60% last week and 68% last year.
Yesterday, USDA reported with 96% of the crop now planted, the 2012 corn crop remains ahead of last year's crop (75%), as well as the average pace over the last five years (81%).
Net income attributable to Deere & Company was $1.056 billion, or $2.61 per share, for the second quarter ended April 30, compared with $904.3 million, or $2.12 per share, for the same period last year.
USDA reported that 87% of the 2012 corn crop was in the ground. This puts planting progress far ahead of last year's pace (56%) as well as that of the five year average (66%).
Greg Petras, president of Kuhn North America, says despite the current market challenges the company is continuing to invest in its facilities, people and products.
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