Crop Progress: Soybean Harvest Complete

(DTN) -- Soybean harvest is virtually complete across the nation as USDA's weekly crop progress report Monday did not include any numbers for the crop.

This may be the last week we see a table for corn harvest, as it was reported at 96 percent complete as of Nov. 7, which is where soybeans were on last week's report. That corn progress number compares to 35 percent last year and a 73 percent five-year average.

"This report should be considered neutral as traders anticipated harvest would be largely done," said DTN Analyst John Sanow.

Winter wheat planting is also getting close to complete at 95 percent and emergence is at 82 percent. Emergence compares to 72 percent last year and a 79 percent five-year average.

"The DTN Condition Index declined another 3 index points to 113, keeping it well below last year's 158 points," Sanow said. "With dry weather continuing to negatively affect the crop, this report could be considered bullish, particularly by the noncommercial side. Keep in mind, though, there is no statistical correlation between fall ratings and final yield."

http://www.dtnprogressivefarmer.com

 

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