US corn harvest below trade expectations at 21% complete
Recasts with USDA data
By Renee Hickman
CHICAGO, Sept 30 (Reuters) -The U.S. corn harvest is 21% complete and the soybean harvest is 26% complete, the U.S. Department of Agriculture said in its weekly crop progress and condition report on Monday.
Corn harvesting was 2 percentage points behind the average expectation of 10 analysts polled by Reuters, while the soy harvest was 2 percentage points above the average expectation.
The U.S. is the world's largest exporter of corn and the No. 2 soybean supplier after Brazil. The USDA has projected farmers will produce a record soybean crop and the second-largest corn crop in history.
"As we head into October, harvest activity will move into high gear with dry conditions expected to continue," said Iowa Secretary of Agriculture Mike Naig in a statement.
The corn crop was in 64% good to excellent condition, down 1 percentage point from last week and in line with trade expectations. Soybeans were also rated 64% good to excellent, the same as analyst predictions and unchanged from last week.
Those ratings are the highest for this time of year since 2018 for corn and the highest since 2020 for soybeans.
Meanwhile USDA said the U.S. winter wheat crop, which will be harvested in 2025, was 39% planted. Analysts had expected 38%.
All figures in percent:
Category | Analyst average | Analyst range | USDA last week | USDA this week |
Corn condition ratings* | 64 | 63-65 | 65 | 64 |
Corn harvested (%) | 23 | 21-25 | 14 | 21 |
Soybean condition ratings* | 64 | 62-64 | 64 | 64 |
Soybeans harvested (%) | 24 | 22-27 | 13 | 26 |
Winter wheat planted (%) | 38 | 32-43 | 25 | 39 |
*% good/excellent |
Reporting by Renee Hickman; Editing by David Evans and Jamie Freed
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.
