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U.S. farmers begin 2018 soybean harvest

U.S. farmers begin 2018 soybean harvest

Producers in Louisiana lead the nation

By Diego Flammini
Staff Writer
Farms.com

Combines are beginning to roll through U.S. soybean fields.

American farmers have harvested about 6 percent of the 2018 soybean crop, the USDA’s latest Weekly Weather and Crop Bulletin says. That number is up from 4 percent at this time last year.

Producers in Louisiana are the furthest along.

Farmers in the state have completed about 51 percent of their soybean harvest. That figure is up from 42 percent last week.

Wisconsin and Ohio soybean farmers have harvested 1 percent of their respective soybean acres. Growers in Michigan and Kansas are yet to harvest any soybeans.

The USDA ranked 67 percent of the U.S. soybean crop as in good to excellent condition.

Corn

Almost all U.S. producers have started this year’s corn harvest.

Farmers have combined about 9 percent of the total corn crop, the USDA says. That number is up from 5 percent last week.

Growers in North Carolina and Texas are the furthest along.

Farmers in each state have harvested about 66 percent of their corn acres, the USDA says.

Producers in Wisconsin, Pennsylvania, North Dakota, Minnesota and Michigan have just begun their corn harvest. Each state reported 1 percent of harvested corn crops.

Growers in Colorado are the only ones who haven’t started corn harvest yet, the USDA reports.

The USDA ranked 68 percent of the 2018 corn crop as in good to excellent condition.

Wheat

As corn and soybean farmers harvest crops, winter wheat producers are busy with planting.

U.S. winter wheat growers have planted about 13 percent of the 2018 crop, the USDA says. That number is up from 5 percent last week.

Farmers in Washington have made the most planting progress.

Growers in the state have seeded about 47 percent of their winter wheat acres, which is up from 29 percent last week and the highest in the country.

Growers in California have planted 2 percent of their winter wheat crops.

Producers in Ohio, North Carolina, Montana, Missouri, Illinois and Arkansas haven’t planted any winter wheat yet.

Spring wheat producers are wrapping up the 2018 harvest.

Farmers have combined about 97 percent of spring wheat acres, the USDA says. That number is up from 93 percent last week.

Growers in South Dakota and Minnesota have finished their respective harvests.

Producers in Montana have harvested 94 percent of their spring wheat, which is the lowest among the six documented states.

Suitable fieldwork days

Farmers in California, Nevada, Utah, Arizona and New Mexico experienced seven suitable fieldwork days for the week ending Sept. 16.

Farmers in Maryland (1.5), Delaware and Connecticut (2), and Pennsylvania (2.5) had the fewest number of suitable fieldwork days during the same week.

Weekly precipitation levels

State

Precipitation (inches)

Weather Station

Illinois

0

N/A

Indiana

0.39

Indianapolis

Iowa

0

N/A

Kentucky

1.64

Lexington

Michigan

0.04

Lansing

Missouri

0.02

Saint Louis

New York

2.82

Binghamton

Pennsylvania

4.87

Williamsport

Tennessee

1.84

Bristol

The next Weekly Weather and Crop Bulletin will be released Sept. 25.


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Historically, the USDA December crop report is a non-event or another dud report as the USDA reserves any final supply changes to the final report in January of the following year in this case 2026. But after the longest U.S. government shutdown in history at 43 days and no October crop report will they provide more data/surprise and make an exception?
Our China U.S. soybean purchase tracker is now at 26.6% or a total of 3.2 mmt but for traders it’s taking too long to unfold.
The final Stats Canada production report was bearish canola and wheat projection a record crop in both (it adds to the global glut of supplies) and bullish local corn and soybean prices in Ontario/Quebec thanks to a drought. It will not help the fund flow short-term, the USDA may need to offset it?
A U.S. Fed interest rate cut of another 25-basis point next Wednesday (probability 87.1%) could help fund flow and sentiment in stock and ag commodities into year end.
More inflows into Bitcoin this past week saw prices rebound back above 90,000 with support at 82,000 and resistance at 96,000.
A V-shaped bottom in cattle suggest the lows are in after Mexico reported another new world screwworm case. Lower weights, seasonal demand and higher U.S. beef select/choice values with a continued closure of the Mexican border to cattle will result in a resumption of higher cattle futures into yearend.
Australia is expected to produce its 3rd largest wheat crop ever at 36 mmt adding to the global glut of supplies.
Reports of ASF in hogs in Spain the largest pork exporter in Europe could see the U.S. win more pork export business long-term.
If the rains verify into next week of 3-5 inches for Brazil it would go a long way to fixing the dry regions from the last 2-months, but the European weather model has been wrong for the past 2-months!
Natural gas futures are surging to the 3rd price count as frigid hold temps set in.
CDN $ is also surging to end the week on a very resilient economy and better employment numbers suggesting no interest rate cuts next week.
Finally, the CFTC report showed funds were net buyers of soybeans but sellers of corn, canola and wheat. In real time the funds have gone back to selling as they take some profits.