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US Corn and Soybean Harvest Hits the Home Stretch for 2018 as Winter Wheat Planting Wraps Up

 
The United States Department of Agriculture released its latest Crop Progress Report on Monday, November 19, 2018. According to the report, both the US corn and soybean harvests have arrived at the homestretch for this year, while cotton and sorghum harvest continued to make moderate progress this week.
 
With just 10 percent left to go before closing the books on this year’s crop, the US corn harvest is as of this week 90 percent complete. That is still slightly behind the average pace of the US corn harvest historically, which is generally at 93 percent complete at this time of year. However, this week’s report places the 2018 harvest just ahead of last year’s progress of 89 percent by one percentage point. This week, three states have reported finishing their corn harvest including Illinois, North Carolina and Tennessee - all at 100 percent complete.
 
The US soybean harvest continues to trail its normal progress this year as well, at 91 percent complete this week, according to the report. That puts the US soybean harvest approximately 5 points behind normal and last year’s pace of 96 percent. Although several are very close, no states have yet to report being totally complete with their soybean harvest for the year.
 
Meanwhile, cotton harvest continues in the southern region, reported this week at 59 percent complete which is 10 points behind the five-year average for this time and 14 points behind last year’s pace of 73 percent.
 
Sorghum harvest is further along than cotton at this juncture, reported at 80 percent complete this week. Like cotton, it is 10 percent behind its average pace, but only 9 points behind last year’s pace of harvest.
 
To view the complete USDA Crop Progress Report released on Monday, November 19, 2018, click here.
 
Across our three-state region here in the Southern Plains -
 
Winter wheat planted in Oklahoma reached 92 percent, down 4 points from the previous year. Winter wheat emerged reached 81 percent, down 8 points from the previous year and down 12 points from normal. Winter wheat’s condition in Oklahoma this week rates, 16 percent poor to very poor, 32 fair and 52 percent good to excellent. Canola planted reached 90 percent. Canola emerged reached 71 percent, down 29 points from the previous year. Corn harvested reached 99 percent. Sorghum harvested reached 82 percent, down 1 point from the previous year and down 6 points from normal. Soybeans dropping leaves reached 95 percent, unchanged from the previous year. Soybeans harvested reached 68 percent, down 10 points from the previous year. Cotton harvested reached 51 percent, down 7 points from the previous year and down 7 points from normal. Pasture and range condition was rated at 16 percent poor to very poor, 40 fair and 44 percent good to excellent.
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Is China Buying US Soybeans + USDA Nov 14th Crop Report could be “Game Changing”

Video: Is China Buying US Soybeans + USDA Nov 14th Crop Report could be “Game Changing”


After a week of a U.S./China trade truce, markets/trade is skeptical that we have not seen a signed agreement nor heard much from China or seen any details. There are rumors that China is buying soybean futures & not the physical. Trust in Trump?
12 MMT of U.S. soybean purchases by China by year-end is better than 0 but we all need to give it more time and give it a chance to unfold. China did lower the tariffs on Ag and is buying U.S. wheat and sorghum.
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