The U.S. soybean harvest is on track compared to last year and the 5-year average, but corn acres harvested so far is markedly behind schedule.
USDA is reporting that as of Oct. 22, 97% of soybeans are dropping leaves. This is on par with the 5-year average and only 1% behind last year’s progress. So far, 70% of soybeans have been harvested. This compares to 74% at this time last year and the 5-year average of 73%.
Corn, on the other hand, isn’t keeping up with either last year or the 5 year pace.
At this point, USDA is rating 96% of corn as “mature,” which compares favorably with last year (99%) and the 5-year average (97%). As of Sunday, only 38% of corn acres have been harvested vs. 59% for both last year and the 5-year average. It is up from 26% last week.
There isn’t much change in the condition of this year’s corn crop (66% good or excellent) compared to a week ago (65% good or excellent). But it’s far behind the 5-year average of 74% good or excellent.