USDA: U.S. soybean harvest 63% complete, above market expectations

Washington, October 18 news: The U.S. Department of Agriculture’s weekly national crop progress report showed that the U.S. soybean harvest progressed beyond market expectations. The soybean excellent and good rate remained unchanged.

In the 18 states that account for 96% of the country’s soybean planting area, as of October 16 (Sunday), the US soybean deciduous rate was 96%, 91% last week, 94% last year, and the five-year average was 94%.

The soybean harvest progress is 63%, 44% last week, 58% last year, and the five-year average of 52%. Analysts on average had expected soybean harvest progress to be 60 percent ahead of the report, with forecasts ranging from 55 percent to 63 percent.

The soybean good-to-excellent rate remained unchanged at 57%, 57% last week, and 59% in the same period last year. Analysts expected 57%, and the forecast range was 56% to 57%.

The ratio of soybean ratings is 10% excellent, 47% good, 28% fair, 10% poor, and 5% bad; last week was 10% good, 47% good, 28% fair, 10% bad, and 5% bad; 13%, good 46%, fair 27%, poor 10%, bad 4%.