The first Crop Progress Report for November shows a disappointing corn harvest number- while the national soybean harvest stat is slightly behind what the pre report trade expectation was.
In the case of corn, harvest through November 3rd is only 52% complete- versus an expected number for this week's report by the trade of 58%. That 52% number continues to be well under the 74% of a year ago and the 75% five year average. The "I" states are all roughly 30 pecentage points behind normal- Iowa at 43%, Indiana at 57% and Illinois at 58%. The harvest situation in North Dakota appears to be in the most dire condition- only 10% of their corn crop is now harvested versus a five year average of 60% by this date.
The soybean harvest number this week is at 75%- versus 77% expected by the trade. In 2018 by this date- the soybean harvest was 81% complete, while the five year average stands at 87%. Both Illinois and Iowa have a five year soybean harvest number for this week of 91%- Illinois is 14 percentage points under that at 77% and Iowa is 11 percentage points behind at 80%. Missouri is struggling with their soybean harvest at just 54% harvested- 19 percentage points behind their five year average of 73% harvested.
Nationally- the US Cotton Crop is actually ahead of a year ago and the five year average- now at 53% harvested versus 48% a year ago and the five year number- 51%.
The southern plains wheat crop is almost all in the ground- with Oklahoma now 93% planted and Kansas checking in at 94% planted- both of thoese numbers are 12 percentage points ahead of planting in each state- and both numbers are exactly three percentage points ahead of the five year average. Texas still has some planting to do- now at 78% planted- one point behind the five year average but six points farther along than in 2018. Emergence in the three southern plains states now stands at 83% for Oklahoma, 72% for Kansas and 57% in Texas.
Click here to see more...