U.S. Corn Harvest Reaches Halfway Point, USDA Says

DES MOINES, Iowa -- U.S. corn farmers have finally breached the halfway point of harvest, according to Monday's USDA Crop Progress Report.

Farmers in Iowa, Minnesota, North Dakota, and Wisconsin remain furthest behind with harvesting in November.

North Dakota is only 10% harvested on corn, below a 60% five-year average. Iowa farmers have 43% of their corn out of the fields, compared with a 72% five-year average.

Corn

In its weekly Crop Progress Report, the USDA pegged the U.S. corn harvest at 52% complete, below a five-year average of 75%, and below the trade's expectation of 58%.

Minnesota has 44% of its corn picked vs. a 75% five-year average.

The overall condition of the corn crop is rated at 58% good to excellent in the top 18 corn producing states equal to a week ago.

Soybeans

The amount of soybeans cut totaled 75%, below an 87% five-year average, yet equal to the trade's expectations.

A number of major soybean-producing states remain way below their five-year averages.

For instance, North Dakota is only 56% complete vs. a 95% five-year average. And Wisconsin farmers have only 62% of their soybeans cut vs. a five-year average of 85%.