CURRENT HARVEST CONDITION REPORT
USDA Crop Progress Report summary for September 16, 2024
CROP CONDITION – Percent Good-to-Excellent as of September 15, 2024
- U.S. Corn: 65% good-to-excellent (+1%), compared to 51% this week last year and 55% 5-yr average
- U.S. Soybean: 64% good-to-excellent (-1%), compared to 52% this week last year and 56% 5-yr average
CORN PROGRESS – As of September 15, 2024
- U.S. Corn Dented was 85%, compared to 88% this week last year and 84% 5-yr average.
- U.S. Corn Mature was 45%, compared to 48% this week last year and 38% 5-yr average.
- U.S. Corn Harvested was 9%, compared to 8% this week last year and 6% 5-yr average.
SOYBEAN PROGRESS – As of September 15, 2024
- U.S. Soybeans Dropping Leaves was 44%, compared to 47% this week last year and 37% 5-yr average.
- U.S. Soybeans Harvested was 6%, compared to 4% this week last year and 3% 5-yr average.
WINTER WHEAT PROGRESS – As of September 15, 2024
- U.S. Winter Wheat Planting Progress: 14%, compared to 13% this week last year and 13% 5-year average.
Corn good-to-excellent ratings were up 1% this week. Soybean good-to-excellent ratings were down 1% this week.
USDA’s corn condition estimate is perceived as modestly bearish for corn prices. Today’s estimate for good+excellent corn condition rating came in 2 points above the average estimate coming into today’s report. The corn harvest pace estimate is now slightly ahead of last year’s pace, aided by warm, dry weather over the last week.
USDA’s soybean crop condition estimate is perceived as neutral for soybean prices. Today’s soybean good+excellent estimate came in right on market expectations.
This week’s forecast suggests another week of above normal temps for the corn belt. Precipitation is forecasted to be above normal. The temperature forecast is likely to keep crop development pace ahead of a year ago, but the market is likely to expect any rain may pull harvest back to the average pace in next week’s reports.
The winter wheat planting progress estimates are neutral for prices.
Information provided by: Ron Sabatka, Weekly Farm Management Report
IN YOUR STATE
Live in the Midwest? We serve Nebraska, Iowa, and Kansas! This month we are conducting appraisals in:
NEBRASKA: Holt, Dodge, Clay, Adams, Hall, Buffalo, Dakota, Thurston
TESTIMONIAL
