Harvest finish line is in sight
At this pace, by the end of October, most -- if not all -- of the nation's corn and soybeans will be in the bin.
As of Sunday, 68% of the nation's corn crop is harvested, acccording to Monday's USDA-NASS Crop Progress report. Previously, just shy of 40% of the crop was harvested as of this week. Farmers in the Corn Belt had another week of big corn harvest progress, with Illinois (93% complete) and Indiana (90%) farmers almost finished and farmers in states like Iowa and Ohio close behind.
Soybean harvest is even further along. At 83% completed as of Sunday, farmers are 21% ahead of the normal harvest pace. It's the quickest harvest pace on record (78% complete as of this week in 2005 was the previous record). With the strides made in the last week -- at or above 80% in the largest soybean-growing states in the Midwest -- soybean harvest should wrap up by the month's end.
"While fast maturing crops certainly helped get the harvest rolling early this year, it has been dry weather in late September and so far in October that has really made the difference," according to Monday's Freese-Notis Weather, Inc., Weather Market Commentary. "The entire Corn Belt has had below normal rainfall since October 1, with the bulk of that area seeing under 25% of normal moisture."
Look for that to change by the end of this month, though, as a storm kicks up late this week and moves through the Corn Belt and Delta through next week, making for a "wet 6- to 10-day forecast period. The rain threat will bring warmer temperatures with it," according to Freese-Notis.