Washington, October 11 news: The U.S. Department of Agriculture’s weekly national crop progress report showed that the U.S. soybean harvest progressed beyond market expectations. Soybean good-to-good rates also improved unexpectedly.
In the 18 states that account for 96% of the national soybean planting area, as of October 9 (Sunday), the U.S. soybean deciduous rate was 91%, 81% last week, 90% last year, and the five-year average was 88%.
The soybean harvest progress is 44%, 22% last week, 47% in the same period last year, and 38% in the same period of the five-year average. Analysts on average had expected soybean harvest progress to be 41 percent ahead of the report, with forecasts ranging from 36 percent to 49 percent.
The soybean good-to-excellent rate increased to 57%, from 55% last week and 59% in the same period last year. Analysts expected 55%, and the forecast range was 53% to 56%.
The proportion of soybeans rated excellent is 10%, good 47%, fair 28%, poor 10%, bad 5%; last week was 9% excellent, good 46%, fair 29%, poor 10%, bad 6, bad 5; last year In the same period, it was excellent by 13%, good by 46%, average by 27%, poor by 10%, and poor by 4%.