U.S. soybean harvest progress and good-to-excellent rate are lower than market expectations

Foreign media news on September 20: The U.S. Department of Agriculture’s weekly national crop progress report showed that the U.S. soybean harvest progress and excellent rate were both lower than market expectations.

In the 18 states that account for 96% of the country’s soybean planting area, as of September 18 (Sunday), the US soybean deciduous rate was 42%, 22% last week, 55% last year, and the five-year average was 47%.

The soybean harvest progress, released for the first time this week, is 3%, compared with 5% in the same period last year and the five-year average of 5% in the same period. Analysts on average had expected the soybean harvest to be 5 percent ahead of the report.

The soybean good-to-excellent rate was 55%, 56% last week, and 58% in the same period last year. Before the report was released, analysts expected an excellent rate of 56%. The ratio of soybean ratings is 9% excellent, 46% good, 30% fair, 10% poor, and 5% bad; last week was 11% good, 45% good, 29% fair, 10% bad, and 5% bad; 11%, good 47%, fair 28%, poor 10%, bad 4%.