Rain abates in the US Midwest to prompts hopes of harvest progress

Forecasts for clear skies and improved weather across the key Midwest corn and soy producing states are bolstering hopes that progress can be made in gathering in crops. Data from the US Department of Agriculture, released earlier this week, showed progress across key states lagging well behind previous year’s progress, and the five year average.

The US National Weather Service shows rain restricted to the Pacific Northwest, Florida and some parts of Texas, but the Midwest is primed for a relatively precipitation-free few days until rain returns at the weekend.

Currently the forecast expects a band of heavy rain to sweep over the Midwest from Saturday afternoon.

The USDA’s Crop Progress report highlighted the impact of heavy rain across the region, with some key states such as Minnesota and North Dakota still in single figures for the percentage of corn harvested as of October 15.

Across the 18 states of the Midwest, the average percentage harvested for soybeans stood at 49% and 28% for corn as of October 15, according to the data. That compares with a 2016 average of 59% for soy and 44% for corn harvested. The harvesting also lags the 2012-2016 average, which was reported as 60% for soy and 47% for corn by this stage of the season.

CBOT corn and soy futures both moved downwards at the news of the improved weather forecast.