Soybean crop update, In the U.S. last week the last U.S. Department of Agriculture (USDA) weekly crop progress report of the year. The U.S. soybean harvest was pegged at 94 per cent complete, which is slightly behind of the five-average of 96 per cent.
Soybean planting in Argentina slowly returned to a more normal pace last week after the very heavy rains of the previous week. the Rosario Exchange reported that 300,000-500,000 hectares of soybeans in the core production region of Argentina may have been lost due to the heavy rains he soybeans in Argentina were 29.6% planted late last week according to the Buenos Aires Grain Exchange. The soybean planting advanced 7.9% last week, but it is still 4.4% behind last year’s pace.
The weather in Brazil continues to be beneficial for the planting and development of the soybean crop. The crop was planted record early and the early harvest will start before the end of December, approximately 95% of the crop is rated in good to excellent condition. Overall The 2018/19 soybean crop in Brazil is 89% planted compared to 84% last year and 78% for the 5-year average. Soybean planting continues to be record fast across nearly all of Brazil.