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US corn harvest 47% complete, soy 67% done, USDA data shows

The U.S. corn harvest was 47% complete by Sunday and the soybean harvest was 67% finished, data from the U.S. Department of Agriculture showed on Tuesday, as dry conditions have helped farmers speed up their field work this fall.

The USDA also rated 64% of the U.S. corn crop as good to excellent, unchanged from last week and in line with the average estimates of a Reuters poll of 12 analysts.

The condition ratings are the highest for this time of year for corn since 2018, underscoring expectations for large harvests. The USDAsaid last week that U.S. farmers produced even more corn than expected this year, expanding its forecast for the nation’s second biggest harvest ever.

The harvest pace was faster than analysts expected, according to the Reuters poll. At 67% complete, the U.S. soybean harvest is well ahead of the five-year average of 51%, while the corn harvest, at 47% complete, is ahead of its five-year average of 39%.

Analysts on average expected the corn harvest to be 44% complete, and the soybean harvest 64% completed, according to the Reuters poll published on Tuesday.

“Warm and dry conditions continued across much of the state last week, providing a window for significant harvest progress,” Mike Naig, agriculture secretary for Iowa, the top U.S. corn producer, said in a statement.

The U.S. is the world’s largest exporter of corn and the No. 2 soybean supplier after Brazil.

Farmers continue to seed the U.S. winter wheat crop, which will be harvested in 2025. The USDA reported winter wheat plantings as 64% complete, behind the average analyst estimate of 66% and the five-year average, also 66%.
Source: Reuters (Reporting By P.J. Huffstutter in Chicago; additional reporting by Julie Ingwersen in Chicago; Editing by David Gregorio and Jonathan Oatis)

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