Most Midwest farmers can see the harvest finish line, but bitter temperatures and blowing snow have prevented them from crossing it. There is some speculation that if it’s still in the field at this point, it will probably stay there until next spring. Which also means any late tillage work and fertilizer application will not get done either.
Yesterday, USDA reported that 94% of U.S. corn acres had been harvested as of last Sunday. This is up 5% from the previous week, at the same level as a year earlier and 2% ahead of the 5-year average.
Of the big corn states, Illinois had completed 97% of its harvest, with Iowa, Minnesota and Nebraska just slightly behind that pace at 96%. Michigan and Wisconsin remained far behind with only 69% and 73% of their corn acres harvested so far.
The pace of the U.S. soybean harvest is somewhat better with 97% of all acres completed. This compares to 95% a year ago, 94% last week and the 5-year average of 98%.
Illinois and Nebraska are 100% complete, and Iowa and Minnesota nearly done with their soybeans with 99% harvested.
USDA also reported that 92% of winter wheat had emerged, up from 87% a week earlier and 3% above the 5-year average.
Year-over-year corn prices are down 13.4%, soybeans are down 22.3% and wheat is down 16.9%.