Latest USDA Report: Corn Harvest Progresses, Soybeans Slow Down

The most recent USDA crop progress report, released Monday, showed soybean harvest progressed 11 points to reach 60% complete as of Sunday. The gain is slightly smaller than last week’s and has now dropped 13 points behind last year’s progress of 73%, but still remains up 5 points from the five-year average. The precipitation-induced loss of momentum comes after near-perfect harvest conditions graced much of the Midwest over the past few weeks. Many states are still maintaining an above-average pace, including Iowa, Minnesota and South Dakota. Meanwhile, corn harvest steadily continues, also up 11 points to 52% complete as of Sunday. A slightly smaller weekly gain, corn harvest is now 5 points behind last year but 11 points ahead of the 5-year average. Read the latest USDA Crop Progress Report.