Crop Progress Update – 11/16/20
According to the USDA, corn harvest progress remained at a four year seasonal high level through the week ending Nov 15th but finished slightly below analyst expectations. Soybean harvest progress remained at a three year seasonal high level, finishing equal to analyst expectations.
Corn:
Corn harvest progress as of the week ending Nov 15th was 95% completed, finishing ahead of last year’s pace of 73% completed and the five year average pace of 87% completed. Corn harvest progress remained at a four year seasonal high level but finished slightly below analyst expectations of 96% completed.
Weekly increases in corn harvest progress were largest throughout New Mexico, followed by Oregon and Ohio.
Soybeans:
Soybean harvest progress as of the week ending Nov 15th was 96% completed, finishing ahead of last year’s pace of 89% completed and the five year average pace of 93% completed. Soybean harvest progress remained at a three year seasonal high level, finishing equal to analyst expectations of 96% completed.
Weekly increases in soybean harvest progress were largest throughout Kentucky, Virginia and Georgia.