US Agriculture Update: Harvest Progress and Export Trends

Agriculture - US harvest progress

The USDA’s weekly crop progress report for the week ending 29 October shows that 71% of the US corn crop was harvested, down from 74% at the same stage last year. However, it was above the five-year average of 66%. Similarly, 85% of the US soybean area was harvested, down from 87% at the same stage last year, but higher than the five-year average of 78%. Finally, 84% of the winter wheat area has been planted, down from 86% at the same stage last year and slightly lower than the 5-year average of 85%.

Weekly export inspection data from the USDA for the week ending 26 October shows that US corn and wheat inspections rose, while soybean exports eased over the last week. Export inspections of corn stood at 531.5kt, up from 449.3kt in the previous week and 445.7kt reported a year ago. Similarly, US wheat export inspections stood at 189.8kt, above 169.5kt a week ago, and also higher than 137.1kt seen last year. For soybeans, US export inspections stood at 1,890.2kt, down from 2,625.7kt a week ago and 2,586.2kt for the same period last year.