Crop Progress Update – 10/7/19
According to USDA, corn dent, maturation & harvest figures and soybean leaf dropping & harvest figures remained significantly below previous year levels through the first week of October. The current corn and soybean crops identified to be in good or excellent condition both declined from the previous week, each finishing below average analyst expectations.
Corn:
Corn dent as of the week ending Oct 6th was 93% complete, finishing behind last year’s pace of 100% and the five year average pace of 99%. Corn dent progress finished at a record low seasonal pace.
Corn maturation as of the week ending Oct 6th was 58% complete, finishing behind last year’s pace of 92% and the five year average pace of 85%. Corn maturation progress finished at the second lowest seasonal pace on record.
Corn harvest progress as of the week ending Oct 6th was 15% complete, finishing behind last year’s pace of 33% and the five year average pace of 27%. Corn harvest progress finished at a ten year low seasonal pace and was below average analyst expectations of 19% completed.
56% of the current corn crop was identified to be in good or excellent condition as of the week ending Oct 6th, down one percent from the previous week. The current corn crop identified to be in good or excellent condition remained below last year’s figure of 68% and was slightly below average analyst expectations of 57%. 15% of the current corn crop was identified as very poor or poor, up one percent from the previous week and finishing three percent above last year’s figure.
The percentage of the current corn crop identified to be in good or excellent finished at a six year seasonal low level for the week ending Oct 6th while the percentage of the current corn crop identified to be in poor or very poor condition finished at the highest level experienced throughout the past six years.
Soybeans:
Soybean leaf dropping as of the week ending Oct 6th was 72% complete, finishing behind last year’s pace of 90% and the five year average pace of 87%. Soybean dropping leaves progress finished at a 38 year low seasonal pace.
Soybean harvest progress as of the week ending Oct 6th was 14% complete, finishing behind last year’s pace of 31% and the five year average pace of 34%. Soybean harvest progress finished tied for the lowest seasonal pace on record while finishing slightly below average analyst expectations of 15% completed.
53% of the current soybean crop was identified to be in good or excellent condition as of the week ending Oct 6th, down two percent from the previous week. The current soybean crop identified to be in good or excellent condition finished below last year’s figure of 68% and was below average analyst expectations of 55%. 15% of the current soybean crop was identified as very poor or poor, up two percent from the previous week and finishing five percent above last year’s figure.
The percentage of the current soybean crop identified to be in good or excellent finished at a six year seasonal low level for the week ending Oct 6th while the percentage of the current soybean crop identified to be in poor or very poor condition finished at the highest level experienced throughout the past six years.