October 10, 2023
Analysts were expecting USDA to report some decent harvest action in the agency’s latest crop progress report, out Tuesday afternoon and covering the week through October 8. USDA did indeed show farmers making some solid advancements this past week, matching or mirroring trade guesses offered up before today’s report.
Corn harvest pace moved from 23% completion last week up to 34% through Sunday, which mirrored analyst expectations. That puts this season’s pace ahead of both 2022’s mark of 29% and the prior five-year average of 31%. However, state-by-state progress varies wildly, from Texas (83%) all the way down to Wisconsin and Ohio (both at 9%).
Corn quality ratings held steady, as expected, with 53% of the crop still in good-to-excellent condition. Another 29% is rated fair (unchanged from lats week), with the remaining 18% rated poor or very poor (also unchanged from last week).
Soybean quality ratings shifted slightly lower, meantime. USDA docked ratings a point, with 51% of the crop now in good-to-excellent condition. Another 31% is rated fair (unchanged from last week), with the remaining 18% rated poor or very poor (up one point from last week).
Physiologically, 93% of the crop is now dropping leaves, up from 86% a week ago. That’s ahead of both 2022’s pace of 90% and the prior five-year average of 87%. Harvest progress moved from 23% a week ago up to 43% through October 8. That’s also ahead of both 2022’s pace of 41% and the prior five-year average of 37%.
Other regional crops also made some harvest progress last week, including:
Sorghum = 44% (up from 35% last week)
Cotton = 25% (up from 18% last week)
Peanuts = 27% (up from 16% last week)
Sugarbeets = 21% (up from 15% last week)
Winter wheat plantings moved from 40% a week ago up to 57% through Sunday. That was slightly ahead of the average trade guess of 56% and mirrors the prior five-year average. And 29% of this season’s crop is now emerged, up from 15% a week ago and slightly behind the prior five-year average of 30%.
Click here for more from the latest UDSA crop progress report, including state-by-state pasture and range conditions.
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