Crop Progress Update – 11/2/20
According to the USDA, corn harvest progress remained at a four year seasonal high level through the week ending Nov 1st but finished slightly below analyst expectations. Soybean harvest progress remained at a three year seasonal high level but also finished below analyst expectations.
Corn:
Corn harvest progress as of the week ending Nov 1st was 82% completed, finishing ahead of last year’s pace of 49% completed and the five year average pace of 69% completed. Corn harvest progress remained at a four year seasonal high level but finished slightly below analyst expectations of 83% completed.
Weekly increases in corn harvest progress were largest throughout Michigan, followed by West Virginia, Wisconsin and Washington.
Soybeans:
Soybean harvest progress as of the week ending Nov 1st was 87% completed, finishing ahead of last year’s pace of 71% completed and the five year average pace of 83% completed. Soybean harvest progress remained at a three year seasonal high level but finished below analyst expectations of 91% completed.
Weekly increases in soybean harvest progress were largest throughout West Virginia, followed by New York, Missouri, Alabama and Georgia.