November 6, 2007

 

US corn and soy harvests near completion, 53 percent of wheat crop in good condition

 

 

Harvesting of the 2007 US corn and soybean crops is nearing completion, the USDA reported Monday (November 6, 2007) in its weekly crop progress report.

 

Emergence of the US winter wheat crop continues to lag the level reported last year at this time with the condition of the crop slipping from last week's level, the USDA said.

 

Corn

 

Corn was 86 percent harvested as of Nov. 4, higher than the 79 percent combined last year at this time and slightly above the 83 percent to 85 percent expected by analysts.

 

The amount harvested was "at the upper end of expectations and shows that almost all the corn crop has been harvested with just some fringe areas left to be combined," said Brian Hoops, president of Midwest Market Solutions in Yankton, S.D.

 

The weather forecast calls for favourable harvest weather in the near term so there are no concerns about getting the remainder of the crop harvested, said Hoops.

 

The western areas of the US where the harvest has been lagging made good progress this past week, said Bill Nelson, associate vice president and meteorologist at AG Edwards & Sons in St. Louis. Iowa's harvest progress is up 20 percentage points from last week as the weather let the soil dry and "farmers really went at it," said Nelson.

 

	Percent completion of harvest	Last year	5-year average
US corn	86%	79%	-
Iowa (corn)	83%	82%	82%
Minnesota (corn)	89%	93%	80%
Illinois (corn)	98%	-	92%
Nebraska (corn)	82%	-	75%
US soy	92%	90%	90%
Iowa (Soy)	96%	97%	99%
Illinois (Soy)	98%	-	95%
Minnesota (Soy)	97%	-	97%
Indiana (Soy)	96%	84%	92%

Soy

 

Harvest progress was right in the middle of expectations and in the main states much of the crop has been harvested, and the rest of the crop should be cut without any remaining problems, Hoops said.

 

Winter Wheat

 

The USDA reported that 92 percent of the winter wheat crop was planted, just below the 93 percent seeded in 2006 as well as the five-year average of 93 percent.

 

"It was a good planting pace for the week, considering the extra wheat acres expected to be planted," said Hoops.

 

In Kansas, the largest US wheat producing state, 97 percent of the wheat has been planted as of Sunday, compared to the average of 98 percent. In Oklahoma, 89 percent of the crop has been seeded, compared to 95 percent last year and the five-year average of 95 percent.

 

The USDA reported that 53 percent of the winter wheat crop was in good-to-excellent condition as of Nov. 4, down two percentage points from last week's 55 percent rating.

 

Thirty-four percent of the crop is rated in fair condition with 13 percent rated in poor-to-very poor condition.

 

The decline in crop ratings was anticipated due to the recent dry weather in the hard red winter wheat belt, said Nelson.

 

Conditions in most of the hard red winter states are down while conditions in the soft red winter wheat states are up from last week, Nelson said.

 

In Kansas, one of the nation's top hard red wheat producing states, 55 percent of the crop is rated in good-to-excellent condition, down seven percentage points from last week. In Texas, 23 percent of the crop was rated in good-to-excellent condition, down six percentage points from last week.

 

In soft red winter wheat state Ohio, 88 percent of the crop is rated in good-to-excellent condition, up two percentage points from last week. In Indiana, 78 percent of the soft red crop is rated good to excellent, five percentage points above last week.

 

The USDA said 76 percent of the US winter wheat crop has emerged, below the 80 percent in 2006 as well as the five-year average of 81 percent.

 

In Kansas, 78 percent of the crop has emerged, compared to the 87 percent in 2006. In Oklahoma, 68 percent of the crop has emerged, compared to 79 percent last year and the average of 86 percent.

 

In the soft red winter wheat belt, 88 percent of the crop has emerged in Illinois, compared to 73 percent last year and the average of 78 percent. In Ohio, 95 percent of the crop has emerged versus just 45 percent last year and the five-year average of 76 percent.

 

The weather forecast for the next few days is generally dry and as a result the conditions report might put some premium in the market Tuesday, Nelson said.