Crop Progress: Corn Harvest Continues
This afternoon, the USDA released its weekly crop progress report. The corn harvest is 15% complete which is on pace with the 16% 5-year historical average. USDA estimated 52% of the corn crop is in good or excellent condition, up 1% from last week. The estimate for corn condition in very poor or poor condition decreased to 20%, compared to 21% last week. Last year at this time, 13% of the crop was in very poor or poor condition while 66% was in good or excellent condition.
This week the USDA estimated that 96% of the corn crop was dented while 99% was last year in the fourth week of September; the 5-year historical average is 96%. Out of the entire corn crop, 63% was considered mature by the USDA this week, 46% was mature last week, and 83% was mature last year at this point. The 5-year historical average is 64% in the fourth week of September.
Soybean conditions remained the same from last week. Of the 18 primary soybean producing states, 18% of the soybean crop is in poor or very poor condition while 53% is in good or excellent condition, which is well off 2010 estimates of 13% and 63% for the fourth week of September. The USDA estimated that 58% of soybeans were dropping leaves by this week, which is again lagging the 5-year historical average of 68% for the fourth week of September.
The spring wheat harvest is slightly ahead of historical averages with 96% of the harvest complete so far. The 5-year historical average is that 95% of the spring wheat crop has been harvested by this week in September.
Corn prices decreased by 6.4% over the past week ending at $6.48 per bushel, soybeans were down 5.8% to $12.59 per bushel, and wheat ended the week down 3.7% closing at $6.48 per bushel. Year-over-year corn prices are up 26.6%, soybeans are up 11.6%, and wheat is down 8.2%.
-Colvin
This week the USDA estimated that 96% of the corn crop was dented while 99% was last year in the fourth week of September; the 5-year historical average is 96%. Out of the entire corn crop, 63% was considered mature by the USDA this week, 46% was mature last week, and 83% was mature last year at this point. The 5-year historical average is 64% in the fourth week of September.
Soybean conditions remained the same from last week. Of the 18 primary soybean producing states, 18% of the soybean crop is in poor or very poor condition while 53% is in good or excellent condition, which is well off 2010 estimates of 13% and 63% for the fourth week of September. The USDA estimated that 58% of soybeans were dropping leaves by this week, which is again lagging the 5-year historical average of 68% for the fourth week of September.
The spring wheat harvest is slightly ahead of historical averages with 96% of the harvest complete so far. The 5-year historical average is that 95% of the spring wheat crop has been harvested by this week in September.
Corn prices decreased by 6.4% over the past week ending at $6.48 per bushel, soybeans were down 5.8% to $12.59 per bushel, and wheat ended the week down 3.7% closing at $6.48 per bushel. Year-over-year corn prices are up 26.6%, soybeans are up 11.6%, and wheat is down 8.2%.
-Colvin
Posted by Colvin & Co. at 9/26/2011 4:28 PM 
Categories: USDA Update
Tags: farmland corn wheat soybeans USDA Harvest
Categories: USDA Update
Tags: farmland corn wheat soybeans USDA Harvest
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