Crop Progress Update – 10/21/19
According to USDA, corn and soybean harvest figures remained significantly below previous year levels through the third week of October, reach remaining at ten year seasonal low levels. Corn harvest figures finished four percent below average analyst expectations however soybean harvest figures finished four percent above average analyst expectations.
The current corn crop identified to be in good or excellent condition increased slightly from the previous week, finishing above average analyst expectations while the soybean crop identified to be in good or excellent condition was unchanged from the previous week, also finishing above average analyst expectations.
Corn:
Corn maturation as of the week ending Oct 20th was 86% complete, finishing behind last year’s pace of 99% and the five year average pace of 97%. Corn maturation progress finished at a ten year low seasonal pace.
Corn harvest progress as of the week ending Oct 20th was 30% complete, finishing behind last year’s pace of 48% and the five year average pace of 47%. Corn harvest progress finished at a ten year low seasonal pace and was significantly below average analyst expectations of 34% completed.
Corn harvest progress finished most significantly behind five year average figures throughout Illinois, followed by Montana and Minnesota.
56% of the current corn crop was identified to be in good or excellent condition as of the week ending Oct 20th, up one percent from the previous week. The current corn crop identified to be in good or excellent condition finished below last year’s figure of 68% but was above average analyst expectations of 54%. 14% of the current corn crop was identified as very poor or poor, down one percent from the previous week but remaining two percent above last year’s figure.
Soybeans:
Soybean leaf dropping as of the week ending Oct 20th was 94% complete, finishing behind last year’s pace of 98% and the five year average pace of 97%. Soybean dropping leaves progress finished tied for the lowest seasonal pace experienced throughout the past 28 years.
Soybean harvest progress as of the week ending Oct 20th was 46% complete, finishing behind last year’s pace of 51% and the five year average pace of 64%. Soybean harvest progress finished at a ten year low seasonal pace but was significantly above average analyst expectations of 42% completed.
Soybean harvest progress finished most significantly behind five year average figures throughout North Dakota, followed by South Dakota and Minnesota.
54% of the current soybean crop was identified to be in good or excellent condition as of the week ending Oct 20th, unchanged from the previous week. The current soybean crop identified to be in good or excellent condition remained below last year’s figure of 66% but was above average analyst expectations of 53%. 14% of the current soybean crop was identified as very poor or poor, also unchanged from the previous week but remaining three percent above last year’s figure.