Washington, April 26 News: The U.S. Department of Agriculture’s weekly national crop progress report released after the market on Monday showed that the U.S. soybean planting progress this year is still behind the average progress of previous years, but it is in line with market expectations.
In the 18 states that account for 96% of the country’s soybean planting area, as of April 24 (Sunday), the soybean planting progress in the United States was 3%, 1% last week, 7% in the same period last year, and the five-year average for the same period was 5%.
Before the report, analysts expected a 3% soybean harvest, with a forecast range of 3% to 5%.
In the Midwest, soybean planting progress in Illinois was 1%, compared with 16% in the same period last year, and the five-year average of 8%; soybean planting progress in Iowa was 1%, compared with 5% in the same period last year, and the five-year average of 3%. Work has not yet started. Indiana did not release data on soybean planting progress.