Corn Harvest Progress Lags Expectations; Soybeans Ahead 




US corn harvest progress this past week didn’t quite measure up to trade expectations, but soybeans exceeded them. 


Monday’s USDA crop progress report pegged the national corn harvest at 20% complete as of Sunday, up 8 points on the week but slightly behind the five-year average and the average pre-report trade guess of 22%. Meanwhile, at 22% complete, the soybean harvest was up from 8% the previous week and 2 points ahead of expectations – although still 3 points behind average. 


In the No. 1 production state of Iowa, the corn harvest advanced 6 points on the week to 11% complete, behind 18% last year and 12% on average. The Illinois harvest gained 7 points on the week to 13% complete, well behind 29% on average, while the Indiana harvest was up 10 points to 16% done, versus 24% last year and 20% on average. 


The Michigan corn harvest was 10% done as of Sunday, up 7 points on the week and near the state average of 9%. Ohio was 7% complete, 3 points behind average. The North Dakota corn harvest is just underway at 3% done, versus 17% last year and 7% on average. 


An estimated 75% of the US corn crop had reached maturity as of Sunday, up from 58% a week earlier, and on par with average but behind 86% last year. That portion of the crop in the dent stage reached 96% as of Sunday, up 4 points on the week and a single point behind the average. 


The US corn crop was rated 52% good to excellent as of Sunday, unchanged from a week earlier and 7 points below a year earlier. 


As for soybeans, the harvest in Illinois advanced 8 points from a week earlier to 10% complete as of Sunday, lagging 29% last year and 26% on average. The Indiana harvest was up 12 points on the week to 17% done, still behind 23% on average, while 26% of the Iowa crop was in the bin, an increase of 19 points on the week and 2 points ahead of average. 


At 14% complete, the Michigan soybean harvest was up from 8% a week earlier but 4 points behind average. Ohio was 6 points behind the state average at 13% complete, up from 3% the previous week. The North Dakota soy harvest jumped 21 points on the week to 26% finished, still behind 45% last year and 31% on average. 


Across the country, 81% of the soybean crop was dropping leaves as of Sunday, up from 63% a week earlier and 2 points ahead of average. 


The US soybean crop was rated 55% good to excellent as of Sunday, steady from a week earlier and 3 points below last year. 


Source: DePutter Publishing Ltd.

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