November prices for US corn strongest since 2014 — Brown

As of November 17, 2019, corn was harvested in the United States on 76% of the areas. As of the corresponding date last year, the crop was harvested on 89% of the area, USDA reports.

On average over the past 5 years, the corn crop as of the reporting date was harvested on 92% of the area.

Karen Braun, Global Agriculture Columnist at Thomson Reuters, writes on Twitter that makes the current campaign the third slowest harvest on record since 1981. Slower crop progress was on the reporting date in 2009 (58%) and in 1992 (62%).

US corn harvest progress

As noted by Karen Braun, prices are at the highest levels for the time of year since 2014 and about 5 cents higher than last year.

Daily CBOT December corn futures

In the November report, USDA cut the projection for US corn production in 2019/20 by 3 mln t to 347.01 mln t as compared with the previous forecast.

As of November 14th, harvesting of corn in Ukraine reached 90% using the average yield of 7.04 t/ha (2018: 7.54 t/ha). The crop amounted to 31.4 mln t.

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