USDA reported 52% of corn crops harvested, below the 57% reported harvested by this time in 2020. The 5-year average for corn harvested in this week is 41%.
USDA's crop progress report for the week ended August 29 reported 59% of corn dented, in line with the 60% reported dented in the same week last year. The 5-year average for corn dented in this week was 55%.
According to the latest USDA Crop Progress report, some 8% of corn has been planted in the week ended April 18, in line with the 6% planted in the same week last year.
The condition of the U.S. corn and crops deteriorated in the past week, according to USDA’s August 30 Crop Progress report. And of the two largest corn and soybean producing states, Illinois is far ahead of neighboring Iowa in terms of the health of its crops.
According to the most recent USDA Crop Progress report, 80% of corn in the U.S. was planted as of the week ended May 17, nearly double the 44% planted this time last year.
To no one’s surprise, both U.S. corn and soybean plantings are trailing the 5 year average for this date. Corn seedings are 12% behind, while soybeans are lagging, with very few acres planted so far.
Compared to a week ago, as of Oct. 28, corn and soybean harvests saw a significant double-digit pick up. According to USDA’s most recent Crop Progress report, 63% of corn acres have been harvested.
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.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.