Harvest for Midwest grain farmers is in the home stretch, but the snow and an early cold snap are challenging growers in their final lap. Snow has blanketed much of the region and temperatures are barely getting out of the teens during the day, but growers continue pushing to get crops out of their fields.
Through Sunday, USDA reports that 89% of the corn crop has been harvested. This compares with 80% a week earlier and the 5-year average of 88%. Of the 18 major corn growing states, Minnesota has the most acres harvested at 95%, while Michigan has the least with 59% of corn acres in the bin.
The ag agency also reports that 94% of soybean acres have been harvested as of November 16. This is just slightly below the 5-year average of 96% and 4% ahead of a week earlier. In Nebraska, harvest is complete, with Minnesota (99%) and Iowa (98%) nearing completion.
According to Colvin & Co.’s Farmland Forecast report, year-to-year corn prices are down 13.1%, soybeans are down 20.8% and wheat is down 14.7%.