US corn harvest 9% complete, soybeans 6% done, USDA data shows
Recasts throughout with release of weekly USDA data
By Julie Ingwersen
CHICAGO, Sept 16 (Reuters) -The U.S. corn harvest was 9% complete by Sunday and the soybean harvest was 6% complete, government data showed on Monday, each 3 percentage points ahead of their respective five-year averages, while condition ratings were mixed.
The U.S. Department of Agriculture in a weekly crop progress report rated 65% of the corn crop as good to excellent, up 1 percentage point from a week ago, while 10 analysts surveyed by Reuters on average had expected a 1-point decline.
The USDA rated 64% of the U.S. soybean crop as good to excellent, down 1 percentage point from last week, matching the average analyst estimate.
Still, the condition ratings represent the highest for this time of year for each crop since 2018, underscoring expectations for large harvests. The USDA last week projected record-high U.S. yields for corn and soybeans. The United States is the world's largest exporter of corn and the No. 2 soybean supplier after Brazil.
Dry conditions in much of the Midwest have helped speed crops toward maturity. Some 45% of the U.S. corn crop was mature as of Sunday, the USDA said, ahead of the five-year average of 38%.
Meanwhile, farmers continue to seed the U.S. winter wheat crop that will be harvested in 2025. The USDA reported winter wheat plantings as 14% complete, ahead of the average analyst estimate of 13% and the five-year average, also 13%.
For the 2024 spring wheat crop, the USDA said the harvest was 92% complete, ahead of the five-year average of 90% but behind the average analyst estimate of 93%.
All figures in percent:
Category | Analyst average | Analyst range | USDA last week | USDA this week |
Corn condition ratings* | 63 | 62-64 | 64 | 65 |
Corn harvested (%) | 10 | 8-12 | 5 | 9 |
Soybean condition ratings* | 64 | 63-65 | 65 | 64 |
Soybeans harvested (%) | 4 | 2-6 | NA | 6 |
Spring wheat harvested (%) | 93 | 89-95 | 85 | 92 |
Winter wheat planted (%) | 13 | 11-16 | 6 | 14 |
*% good/excellent |
Reporting by Julie Ingwersen; Editing by Will Dunham and Jonathan Oatis
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
