US corn, soybean harvests complete and wheat conditions improve

The USDA's latest report shows that the US corn and soybean harvests have exceeded market expectations

The US corn and soybean harvests are now complete as of the week ended Sunday November 17, according to the USDA’s weekly crop progress report released on Monday November 18. Corn and soybean harvests both surpassed market analysts’ estimate of 98% complete ahead of the report.

For the equivalent period last year, corn progress was reported at 92%, and the soybean harvest for this period was reported at 96%.

Meanwhile, sunflower harvest progressed to 88% complete, up from 81% last week.

This is significantly ahead of the 75% reported for the same period last year and the five-year average of 78%.

Winter wheat planting reached 94% completion, an increase from 91% the prior week, and equal to last year’s progress but slightly below the five-year average of 96%.

Analysts had anticipated planting to be reported at 95% complete.

Emergence was reported at 84%, up from 76% last week, matching the five-year average but slightly below 85% last year.

The percentage of the winter wheat crop rated in good-to-excellent condition improved to 49%, rising from 44% last week.

However, this remains below 48% last year.

Topsoil and subsoil moisture both improved week on week.

Topsoil moisture conditions during the reporting week were described as 13% very short, 28% short, 52% adequate and 7% surplus, compared with 17% very short, 31% short, 46% adequate and 6% surplus last week.

Subsoil moisture conditions were listed as 16% very short, 34% short, 47% adequate and 3% surplus, compared with 18% very short, 35% short, 44% adequate and 3% surplus in the previous report.

The updated progress highlights the strong pace of harvesting and planting in the US this season.

Sunflower
88% harvested (81% last week, 75% last year, 78% five-year average)

Winter wheat

94% planted (91% last week, 94% last year, 96% five-year average)
84% emerged (76% last week, 85% last year, 84% five-year average)
49% good-to-excellent condition (44% last week, 48% last year)

What to read next
This is a sample of Fastmarkets’ weekly recap of the main movements in global cash markets.
The corrections are as follows: AG-BRY-0004 Barley Feed barley FOB Argentina $/mt Incorrect prices: August $119.00 per tonne Corrected to: August $219.00 per tonne Fastmarkets’ pricing database has been updated to reflect this change. These prices are part of the Fastmarkets Ags Grains package. For more information or to provide feedback on this correction notice or […]
This consultation was done as an adhoc methodology review process, aiming to better reflect the physical market under indexation, considering its reduced liquidity linked to the combination of seasonal demand patterns and the implementation of cross-border import tariffs between the US and China. No feedback was received during the consultation period and therefore Fastmarkets will […]
The corrections are as follows: AG-WHE-0028 Wheat 13.5% FOB Canada CWRS $/mt Incorrect prices: M1 July $279.00 per tonne M2 August $53.75 per tonne M3 September $55.50 per tonne M4 October $48.25 per tonne M5 November $48.25 per tonne M6 December $50.25 per tonne M7 January $41.00 per tonne M8 February $39.25 per tonne M9 March […]
The Wheat 10% FOB US Pacific Northwest SW market typically trades on an outright price basis instead of as a premium to Chicago Mercantile Exchange futures. For that reason, Fastmarkets proposes to discontinue the AG-WHE-0025 Wheat 10% FOB US Pacific Northwest SW Premium c$/bu assessment while keeping its AG -WHE-0027 Wheat 10% FOB US Pacific Northwest SW […]
The Brazilian National Energy Policy Council (CNPE) will increase the country's biodiesel mandate to 15% starting on August 1, from the current blend of 14%, the council announced on Wednesday June 25. It will also increased the percentage of anhydrous ethanol in gasoline from 27% to 30%, also starting from August 1.