US corn 4% harvested, rating declined to 58%: USDA

Corn harvesting started in the US on 12 September. The new crop corn is 4% harvested vs. 5% in 2020, and 5% the five-year average, the USDA report data show.

"In Chicago, after a drop in corn prices at the close last night [13 Sept. – ed.], prices are up again this morning in pre-opening trading. This is a reaction to the crop rating published last night, which is down to 58% of good to excellent from 59% last week. According to the USDA, 4% of the acreage has been harvested compared to the five-year average of 5%," Agritel analysts mark.

Corn crops condition in the US as of 12 Sept.:

• excellent: 14% (2020: 14%)
• good: 44% (2020: 46%)
• fair: 27% (2020: 25%)
• poor: 10% (2020: 10%)
• very poor: 4% (2020: 4%)

Harvesting of spring and winter wheat was completed in the US. Barley harvest is 97% complete. As of the same date last year, 94% of the barley crop was harvested, the 5-year average was 93%.

For soybeans, the USDA report shows the soybean crop condition rating is unchanged at 57%. Analysts expect the soybean harvest to begin as early as next week.

As of 9 September, the new crop campaign was 65% completed in Ukraine. The average yield of grain and leguminous crops made up 4.38 t/ha.