By Mark Weinraub
CHICAGO, Nov 22 (Reuters) – U.S. farmers neared the tail end of their corn and soybean harvests but the pace of their fieldwork was slower than analysts were expecting.
The U.S. Agriculture Department’s weekly crop progress report also showed that the condition of the winter wheat crop deteriorated as it heads toward its dormancy period.
Both corn and soybean harvest were 95% complete as of Nov. 21, 1 percentage point below the average of estimates given in a Reuters poll of 11 market analysts.
For U.S. winter wheat that will be harvested in 2022, good to excellent ratings fell to 44%. Analysts on average had expected the USDA to rate 46% of the crop in good to excellent condition, unchanged from a week earlier. Estimates for good to excellent ratings ranged from 45% to 47%.
Winter wheat planting was 96% complete, USDA said, 1 percentage point less than the market expectations. A week ago, winter wheat planting was 94% complete.
All figures in %:
Category
Analyst average
Analyst range
USDA last week
USDA this week
Corn harvested
96
95-96
91
95
Soybeans harvested
96
95-97
92
95
Winter wheat planted
97
96-98
94
96
Winter wheat condition*
46
45-47
46
44
*% good/excellent
(Reporting by Mark Weinraub; Editing by Mark Porter )
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