The U.S. soybean harvest speeds ahead of a five-year pace, while corn picking lags behind. Meanwhile, crop conditions remain little to shout about, according to the USDA.
Both harvest completion percentages are well below the trade’s estimates of 24% for corn and 25% for soybeans.
In its weekly Crop Progress Report, the USDA pegged the U.S. soybean crop as 21% harvested, compared with a 16% five-year average. Also, the soybean crop is rated at 62% good/excellent vs. 63% a week ago. As of Sunday, 74% of the soybeans were in the drop stage, ahead of the 70% five-year average.
For corn, the USDA sees the crop ratings at 68% good/excellent, equal to a week ago. Also, 18% of the nation’s corn has been harvested, compared with a 23% five-year average. Illinois, at 33% harvested, has the fastest Midwest state pace, Iowa totals just 5%.
USDA sees 71% of the U.S. corn as mature vs. a 72% five-year average.
In its report, the USDA pegged the U.S. Winter wheat crop as 31% seeded, compared with a 35% five-year average.
