While USDA is reporting that as of Sunday (Oct. 23) 61% of corn acreage in the U.S. had been harvested, only one of the five largest corn-producing states was in the home stretch.
Soybeans, on the other hand, are much farther along with 76% of the total acreage in the bin.
According to USDA, the 61% of corn harvested so far (vs. 46% a week earlier) is below the 70% harvested by this time last year, but only slightly behind the 5-year average of 62%.
Of the 5 largest corn producers, which account for more than 50% of the total, only Illinois (#2) is nearing the finish line with 83% harvested. Indiana (#5) had 64% of its corn acres cut, and Minnesota (#4) had 55% out of the field. In Iowa (#1), 52% of its corn acres were harvested as of Sunday, and Nebraska (#3) had one-half (50%) of corn cut.
The 76% of soybeans harvested (vs. 58% last week) compares with 84% last year at this time, and it’s even with the 5-year average of 76%.
Of the 5 top soybean-producing states, only one had less than 70% of its acres in the bin as of this past Sunday:
Minnesota (#3) 95%
Iowa (#1) 77%
Illinois (#2) 76%
Indiana (#4) 71%
Missouri (#5) 57%