Corn, Soyabean Harvest Activities Drop Below Expectations

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The U.S. corn and soybean harvest paces remain below the averages and below trade expectations.
In its weekly Crop Progress Report Monday, the USDA pegged the U.S. soybean crop as 10% harvested, compared with a 13% five-year average, and below the trade’s expectations of 11%.
Also, the soybean crop is rated at 73% good/excellent, equal to a week ago.
As of Sunday, 68% of the soybeans were in the drop stage, ahead of the 64% five-year average.

For corn, USDA sees the crop ratings at 74% good/excellent, equal to a week ago. Also, 15% of the nation’s corn has been harvested, compared with a 19% five-year average and a trade expectation of 17%. Illinois, at 24% harvested, has the fastest major corn-producing Midwest state pace. Iowa totals just 4%.
USDA sees 73% of the U.S. corn as mature vs. a 64% five-year average.
Al Kluis, Kluis Commodities, says that the wet weather is hampering harvest activity.
Corn and soybean harvests lag behind normal in the central Corn Belt because of the very wet conditions. “These reports are about what was expected and indicate that we have huge yield potential,” Kluis told customers in a daily newsletter.