USDA crop progress: Corn harvest inches forward.

The latest USDA crop progress report shows relatively slow corn harvest progress after plentiful rain and snow fell across the central U.S. this past week. The 2018 U.S. corn harvest reached 39% complete last week, up from 34% the prior week. This year’s pace is still ahead of 2017’s 27% and the five-year average of 35%, however. Most southern states are nearly finished, with some Midwestern states also gaining ground. USDA reports that 96% of this year’s corn crop is now mature, up from 93% the prior week and moderately ahead of 2017’s pace of 89% and the five-year average of 91%. Corn crop quality is unchanged from a week ago, with 68% rated good-to-excellent. Analysts expected the agency to dock quality one point. Another 20% of the crop is rated poor, with the remaining 12% rated poor or very poor – all unchanged from the prior week.