The good news is that the 2013 harvest is in the homestretch. Today, USDA reported that as of November 17, 2013, 91% of corn has been harvested in the top 18 corn producing states. This is ahead of the 5 year average of 86%. At the same time, 95% of the soybean crop has been harvested, which is only one percentage point behind the 5 year average.
The bad news is December futures for corn ended the week at $4.12 per bushel, a 5.1% decrease from last week. December wheat ended the week at $6.42, a 0.6% decrease from last week. January soybeans closed the week at $12.87, down 1.1% for the week. Compared to one year ago, corn prices are down 44.2%, soybeans are down 8.3% and wheat is down 23.7%.