The condition of this year’s soybean crop was downgraded by 2 percentage points, while no change was registered for the corn crop as of Oct. 14, 2018, according to the latest Crop Progress report from USDA.
Rain throughout the Corn Belt is slowing harvesting of both corn and soybeans. Only 5% additional acres of corn were cut in the past week bringing the total to 39% vs. 34% a week ago. The pace of harvest this year remains ahead of that a year ago when 27% of acres were harvested as of this date. The 5 year average is 35%.
No change in the condition of the crop was noted from the week prior when 68% of the crop was rated as “good” (47%) and “excellent” (21%). This is slightly better than the 5 year average of 50% in “good” condition and 15% in “excellent” condition.
Only 6% additional acres of soybeans were harvested in the past week. At this point, 38% of the crop is in the bin. This compares with 32% a week earlier, 47% for this date a year ago and the 5 year average of 53%. USDA rates the condition of the crop as 48% “good” and 18% “excellent.” This down from 49% “good” and 19% “excellent” a week earlier. Last year at this time, 61% of soybean acres were rated as “good” (48%) and “excellent” (13%).