October 7, 2003
USDA's Latest Crop Condition Ratings
The report shows no real surprises in harvest progress for the two crops either, though USDA says farmers are harvesting beans a little faster than traders thought.
Soybean harvest is now 37% complete, trailing the season-average pace by 2% points, largely due to slower than usual progress in Indiana, Ohio and Missouri. The numbers were at the high end of pre-report guesses from traders, who were expecting to see harvest from 32-38%, according to Reuters.
Corn harvest is 27% complete, 5 points behind the five-year average pace. Slow progress in Indiana, Iowa, Nebraska and Ohio are contributing to the lag. The numbers were in line with pre-report estimates of 25-30% of completion.
