Market News & Headlines >> U.S. Harvest Pace Picks Up Slightly
The U.S. corn and soybean harvests picked up pace last week, but harvest progress continued to lag well behind normal, according to the weekly USDA Crop Progress report released on Tuesday afternoon.
USDA pegged U.S. corn harvest progress at 22% as of Sunday, up from 15% a week earlier, but 2 percentage points below the average of trade expectations in a Reuters News Service survey and well behind the five-year average of 36%. Some 73% of the crop was said to be mature, up from 58% a week earlier, but below the five-year average of 92%.
The Illinois corn harvest estimated to be only 23% complete, versus an average pace of 59%, while Iowa progress was at 7% versus an average of 20% and Minnesota corn was 5% harvested versus an average of 19%. In Nebraska, on the other hand, harvest progress of 20% was only 4 points behind the average pace.
USDA estimated the U.S. soybean harvest was 26% complete, up 12 points from a week earlier and 1 point above the average of trade expectations, but well behind the five-year average of 49%. Some 85% of the crop was said to be dropping leaves, compared with the five-year average of 93%.
The Illinois harvest was 27% complete vs. an average of 55%, with Iowa’s harvest 17% finished versus an average of 43% and Minnesota’s harvest only 19% complete against an average of 63%, while Nebraska was 28% harvested versus an average of 47%.
U.S. corn crop conditions were rated 55% good/excellent, down from 56% a week earlier. Looking at top growing states, the good/excellent rating fell 2 points in Illinois to 44%; dropped 2 points in Nebraska to 71%; and slipped 2 points in Minnesota to 52%, but rose 1 point in Iowa to 53% and 1 point in Indiana to 33%.
U.S. soybean crop conditions surprisingly were rated 54% good/excellent, up a percentage point from a week earlier. The good/excellent rating was steady in Illinois at 43% and in Iowa at 64%, but fell 3 points in Minnesota to 53% and 2 points in Nebraska to 72%. The good/excellent rating for the North Dakota crop slid 8 points to 53% in the wake of the blizzard that hit the state.