Market News & Headlines >> Corn, Soybean Harvest Pace Fastest Since 2012
The U.S. corn and soybean harvests are advancing at the fastest pace since the drought year of 2012, according to Monday afternoon’s weekly crop progress update from USDA.
USDA’s National Agricultural Statistics Service pegged corn harvest progress at 16% as of Sunday, compared with only 9% a year earlier and the five-year average of 11%. USDA estimated that 72% of the crop was mature, versus only 49% a year earlier and the average of 53%.
U.S. soybean harvest was estimated to be 14% complete by USDA, up from 9% a year earlier and the five-year average of 8%. USDA estimated that 71% of the crop was dropping leaves, up from 60% a year earlier and the average of 57%.
U.S. corn conditions were rated 69% good/excellent, up 1 percentage point from a week earlier and 8 points from a year earlier. Nationwide soybean conditions were rated 68% good/excellent, also up 1 point from a week earlier and 8 points from a year earlier.