Market News & Headlines >> U.S. Corn Harvest Pushes Ahead of Normal Pace
The U.S. corn harvest pace moved ahead of the five-year average and soybean harvest stayed ahead of average last week as clear weather allowed producers to make strong progress across the Midwest.
USDA pegged U.S. corn harvest progress at 59%, up 17 percentage points from a week earlier, 29 points from a year earlier and 5 points ahead of the five-year average. The progress number matched the average of trade expectations in a Reuters News Service survey.
USDA estimated the nationwide soybean harvest at 77% complete, up 15 points from a week earlier, 26 points ahead of a year earlier and 9 points ahead of the average pace.
Corn harvest progress reached 52% in the top growing state of Iowa, up 23 points from a week earlier and on par with the average pace. In the No. 2 growing state of Illinois, corn harvest hit 85% complete, up 14 points from a week earlier and17 points ahead of the average pace.
Minnesota farmers made the fastest progress on corn harvest last week, taking 29% of their crop out of the field to push the overall harvest to 58% complete. Harvest progress remained slightly behind average in Nebraska, South Dakota and Wisconsin.
The Iowa soybean harvest was 83% complete as of Sunday, up 18 percentage points from a week earlier and three points ahead of the five-year average. The Illinois soybean harvest reached 85% complete versus the average pace of 68%.