Farmers in the US Midwest are to see further helpful weather for combining, after an unexpectedly slow week for corn harvesting, although the soybean crop is being reaped at one of the faster paces on record.
At broker futures International, Terry Reilly said that “the two-week US Midwest outlook is drier than that of late last week”,
Both the eastern and western Corn Belt will “see net drying through at least October 10, favouring harvesting activity,” he said, adding there was “no major frost/freeze threat in sight” for most of the area which would cut off growth and stem yield potential.
‘Fastest harvest pace since 2012’
At broker RJ O’Brien, Richard Feltes flagged a “relatively open Midwest weather outlook through mid-October”.
After drydown of corn encouraged by warm weather this month, that “suggests the fastest US harvest pace since 2012”, when both corn and soybean harvests were pretty well wrapped up by mid-November.
Indeed, broker CHS Hedging said that “the corn is drying down pretty fast this year, with some reports that the corn harvest will come on the heels of the soybean harvest”, which typically ends a little earlier.
“The corn crop in the western Corn Belt is drying down pretty fast this year with many reports of moisture around 26%.”
Soybeans harvest overtakes corn
The comments follow US Department of Agriculture data overnight showing a divergence in the relative speeds of corn and soybean harvests last week.
The soybean harvest, at 21% complete as of Sunday, advanced by 14 points over the week, equivalent to more than 11.5m acres reaped, and a faster pace than the 11-point increase expected by investors.
That ranks as the third fastest in the past decade, despite a rain-delayed sowing season, which would suggest a later harvest too.
Indeed, the soybean harvest overtook the corn one, which advanced by 8 points to 18% completion, should of the 11-point increase that investors had expected, and behind the average pace too.
The data suggest some 6.5m acres of corn harvested for grain last week.
The divergence reflects in part the relative development of the crops, with the USDA deeming 71% of the US corn crop mature, a touch behind the average, including in top growing state Iowa.
USDA scouts in Iowa said that “71% of the corn crop was percent mature, six days ahead of last year, but three days behind the five-year average”.
However, development of the US soybean crop was running ahead of the average, with 74% dropping leaves, ahead of the typical 70% by now.
This advance is evident in states including Iowa, and Michigan, where the proportion of soybeans shedding leaves was running 12 points ahead of normal.
“Dry, warm weather throughout the week provided ideal conditions for… helping field crops move rapidly towards maturity,” USDA scouts in the state said.
Nonetheless, the proportion of Michigan corn mature was, at 46%, 10 points behind the typical figure.
(Source – http://www.agrimoney.com/news/us-harvest-pace-to-pick-up-as-dry-weather-sets-in—8823.html)