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Corn maturing level in the US hits 10-year low
8 October 2019, 10:05
As of October 6th, corn crop progress in the US reached 15% of the total areas under the crop in the 2019/20 season, the USDA report reads.
At the same time, corn in the US is mature on 58% of the area, which is almost half as much as last year (98%) and 68 p.p. less on average over 5 years.
Karen Braun, Global Agriculture Columnist at Thomson Reuters, writes on Twitter that in the current year corn matures at the lowest rate.
"At 58%, this year's U.S. corn crop is the slowest-maturing on record as of Oct. 6. In the past week, 2019 slid behind 2009, which was 62% mature on the same date. Last week they were both tied at 43%," she comments.
Under the USDA report, crops condition in the reporting period was as followed:
- excellent — 11% vs. 21% last year;
- good — 45% vs. 47%;
- fair — 29% vs. 20%;
- poor — 11% vs. 8%;
- very poor — 4% (equals the previous year's indicator).
Doubts about US yield levels were strengthening last week and the announcement of a cold snap on the north of the Corn Belt for the end of this week animated the market.
