The soybean harvest for the 2016/17 harvest increased by no less than 16 percentage points in one week, reaching 26% of the projected area. The index released by the USDA (United States Department of Agriculture) was higher than expected by market participants, who projected it at 23%.
With the climate instability observed in September, the North American harvest was well below the numbers observed in 2015, when 36% had already been harvested from the soybean area at the same time. This year's progress, however, is practically within the average of the last five years (27%).
According to the USDA, “good or excellent” soybean crop conditions remained at 74%. There are also 19% of fields in “fair” condition and 7% “poor or very poor” – numbers unchanged from last week.
Source: Agrolink
